Flat start to week for Nikkei

<p>The Nikkei has had a flat start to the week.</p>

The Nikkei has recovered from some of the losses sustained during last week to post a slight increase in its value today (August 12th).

It rose by 0.1 per cent during the course of the week's opening session, following on from the 0.1 per cent increase that was recorded on Friday, reports Reuters.

But trading was thin during Monday's session and data regarding the Japanese economy has been described by Kenichi Hirano, a strategist at Tachibana Securities, as a "blow" for the stock market.

Japan's economy grew an annualised 2.6 per cent, which is below the expectations of analysts ahead of the release of the figures.

"Investors were hoping for a three per cent growth at least, even if it's below consensus," said Mr Hirano, adding: "Now the question is when and what level the market will stop falling."

Last week, the Nikkei lost around six per cent of its value, which was the biggest weekly drop for the index since June. Last Wednesday was a particularly bad day, with the index dropping by four per cent.

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