Nikkei experiences biggest drop since October

<p>The benchmark Nikkei fell 2.3 per cent over the past week.</p>

Japan's Nikkei has started 2014 on a disappointing note as it suffered its worst weekly loss since October 2013.

Despite ending 0.2 per cent higher 15,912.06 on Friday (January 10th) the benchmark had declined by 2.3 per cent during the course of the week.

The Nikkei had been boosted by Japan's fiscal and monetary stimulus campaign which saw a boost of 57 per cent during 2013 to record its best annual rise since 1972.

It has heralded a great success towards the end of the year with it beating the Dow Jones and FTSE 100 in terms of economic fortune.

While the Nikkei had experienced a decline in fortunes, Japanese clothing company Uniqlo and parent firms Fast Retailing Co Ltd exceeded their own expectations.

Fast Retailing grew by 3.3 per cent on Friday and posted a higher-than-expected first-quarter profit providing some stimulus to the Nikkei but not enough to prevent its poor weekly performance.

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