Nikkei down on US govt shutdown fears

<p>Fears the US government shutdown could continue have affected the Nikkei.</p>

The Nikkei is slightly down today (October 3rd), as the US government shutdown continues.

It dropped by 0.1 per cent to 14,157.25, which is a long way below its 25-day moving average of 14,242.79, reports Reuters.

The Nikkei is also well down on 14,193.99, which is a 50 per cent retracement of its May high to its low in June.

There was also a slight drop in the value of the Topix during the session, with the broader index having fell 0.1 per cent to 1,173.99.

Softbank Corp helped to support the Nikkei during a difficult day of trading for the index, with the firm's share price rising by four per cent.

This jump in the stock's value means it has overtaken Mitsubishi UFJ Financial Group to become the second-largest market capitalisation among the Nikkei components.

Today's 0.1 per cent fall for the Nikkei represents a slight recovery on yesterday's 2.2 per cent drop, which came on the back of a 2.1 per cent decrease in value on Monday.

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