The Nikkei has experienced yet another day of decline, as a slight dip in today's (June 12th) trading session has added to the recent woes of the index.
Having set new five-and-a-half year highs last month, the Nikkei has shed around 20 per cent of its value in the last three weeks and was down by 0.2 per cent at the end of the day.
However, with the Nikkei having closed at 13,289.32, this figure represented a marginal recovery during the course of the afternoon session, as the index had dropped to as low as 12,994.08.
A senior trader at a foreign bank told Reuters: "The market has been oversold. It is looking for an opportunity to go higher."
Disappointment over a lack of fresh measures announced by the Bank of Japan is believed to be one of the reasons why investors are losing confidence in the health of the Nikkei at the moment.
Today's losses come after the Nikkei got a boost on Monday by the news the Japanese economy is growing at a faster rate than had been anticipated.
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