Around the World's Markets: Tokyo

STOCKS CLOSED modestly lower amid worries about the strength of the yen. The Nikkei 225 finished down 37.6 points - 0.22 per cent - at 16,727.08. June Nikkei futures ended 10 points lower.

Tetsuya Ishijima, chief strategist at Okasan Securities, said: "Since export-driven hi-tech manufacturers have surged significantly, investors and dealers were waiting to take profits. The fall in the Nasdaq and rise in the yen gave them an excuse." Fujitsu and Toshiba were among fallers.