10th February 2012
The Japanese blue chip index the Nikkei has seen fluctuations in recent days due to the ongoing investor fears over the state of the eurozone.
Caution prevailed in market trading this morning (February 10th), with the Nikkei closing down by 0.6 per cent and dropped below the 200-day moving average, Reuters reports.
By the end of trading, the index had fallen to 8,947.17, although the Nikkei was still up by 1.3 per cent for the week in full.
"Foreign investors shed a lot of their positions last year on risk-off sentiment, so right now they're buying back Japanese equities. It's not that they're overweight at all," Yutaka Miura, senior technical analyst at Mizuho Securities, told the news provider.
Earlier this week, the Nikkei also closed below the 9,000 barrier on the back of increasing fears that the latest Greek bailout deal would be rejected. However, there are now positive signs the deal will go ahead and this could bolster markets in the coming days.
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