Nikkei drops 1.2% on Apple news

<p>The Nikkei ended 1.2 per cent down today.</p>

The Nikkei lost 1.2 per cent of its value today (April 18th) on the back of concerns about Apple's falling share price.

In the US, Apple's stock dropped by 5.5 per cent after its chipmaker Cirrus Logic gave a disappointing revenue forecast.

The Nikkei was down by as much as 1.4 per cent during the morning session, but had recovered to stand only 0.4 per cent down at the midday break.

But according to a report by Reuters, Toshiba Corp, Murata Manufacturing, Ibiden and Rohm dropped between 2.1 and 3.7 per cent and this left the Nikkei 162.82 points lower at 13,220.07.

Toyota Motor Corp was off 2.2 per cent and Honda Motor Co was down 1.3 per cent on a bad day overall for the Nikkei index.

Mitsushige Akino, executive director and chief fund manager at Ichiyoshi Asset Management, told the news provider earlier today that small-caps have been performing "quite well" on the Nikkei.

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