Around the World's Markets: TOKYO

THE KEY Nikkei average shed some of its gains on profit-taking by yesterday's close after a morning surge above the 18,000-point level. It was the first time it had cleared 18,000 since 30 September 1997.

At the close, the Nikkei 225 average was up 71.72 points or 0.40 per cent at 17,932.47. It had briefly reached 18,066.28.

The surge was fuelled by the market's optimism over Japan's quarterly "tankan" survey of business sentiment, to be released on Monday.