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Japan's Nikkei share average dropped to a 3-1/2-week low on Tuesday, led by weakness in Apple suppliers, while mining shares underperformed on lower oil prices. The Nikkei fell 0.7 per cent to 23,455.98 points by midmorning, sliding below its 25-day moving average of 23,506.36. Earlier, the index dropped to as low as 23,427.29, the lowest level since Jan. 4.
Apple Inc suppliers lost ground after the iPhone maker's shares fell 2.1 per cent on news that the company will halve production of its $999 iPhone X smartphone. Murata Manufacturing shed 2.0 per cent, Taiyo Yuden declined 2.2 per cent and Alps Electric falling 1.3 per cent.
Inpex Corp dropped 1.7 per cent and Japan Petroleum Exploration Co tumbled 4.6 per cent after US oil slipped on Tuesday, extending losses into a second session, as a strengthening dollar sapped demand for crude, while rising US output helped dampen prices. The broader Topix fell 0.5 per cent to 1,870.23.
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