Nikkei in biggest daily loss since June

<p>The Nikkei slipped four per cent today.</p>

The Nikkei experienced its biggest daily loss in almost two months today (August 7th).

As the dollar slipped to a six-week low against the yen, the Nikkei lost around four per cent of its value to end the day at a one-week low of 13,824.94.

Meanwhile, the broader Topix dropped 3.2 per cent to 1,155.26 in relatively thin trade, reports Reuters. It was the largest daily drop for the Nikkei since the middle of June.

Some of the biggest firms on the index saw their share prices dip today to force down the overall value, with Sony among them.

The electronics company slipped by 4.3 per cent, Toyota was down by 2.4 per cent. Fast Retailing Co and SoftBank Corp fell 6.1 per cent and 4.7 per cent, respectively.

After dropping in the early stages of trading yesterday, the Nikkei bounced back from its lowest point in the day by 2.5 per cent.

It has been a rocky week for the index, which started off with a 1.4 per cent loss on Monday.

Learn about the Asian markets and CFD trading at City Index

Build your confidence risk free
Join our live webinars for the latest analysis and trading ideas. Register now

StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.