Nikkei drops back after last week’s rises

<p>The Nikkei fell back by 1.4 per cent today.</p>

The Nikkei slipped today (August 5th) to get the new week off to a negative start for the index.

It lost 1.4 per cent of its value during the course of trading, cancelling out some of the strong gains made at the end of last week.

Having grown by 5.8 per cent in the last two sessions, the Nikkei remains in a relatively strong position, while the Topix also slipped and was down by one per cent to 1,184.74.

It was a quiet day on both of the indexes as trading volumes were thin. There was less activity on the Nikkei during Monday's trading than on any day since December last year.

Exporters bore the brunt of most of the losses on the Nikkei today, due to the yen having strengthened against the dollar on the back of weaker-than-expected US jobs data.

On Friday, the FTSE All-World equity index was up 0.2 per cent to 248.6 to reach close to a new five-year high for the figure. It was boosted by the Nikkei increasing by 3.3 per cent.

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