Nikkei drops back after strong gains

<p>The Nikkei slipped back after two days of gains.</p>

The Nikkei is down today (July 23rd) on the back of two days of gains for the index.

After a strong start to the week on both Monday and Tuesday, the Nikkei fell back by 0.3 per cent to 14,731.28, while the broader Topix lost 0.2 per cent of its value to end the day's trading at 1,219.92.

Losses for the Nikkei were kept low as a result of the good performance of Apple-related stocks after the computer company released an impressive set of sales data, reports Reuters.

Nidec and Apple supplier Murata Manufacturing Co were up by ten per cent and 3.8 per cent respectively after Apple released its latest financial results, helping to support the Nikkei through a day of losses overall.

The Nikkei still seems to be on track to record a sixth weekly rise in a row, despite today's slip back after the two days of gains to start the week.

Monday saw the index up by 0.5 per cent and then it rose by a further 0.8 per cent yesterday.

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