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Around the World's Markets: Tokyo

A RALLY in hi-tech stocks pushed Tokyo shares higher, with the Nikkei 225 closing up 1 per cent at 16,665.88. Traders said tech stocks received a triple boost from the recovery of the Nasdaq, a record close on Wednesday for the Dow and better-than-expected earnings from IBM. Among major hi-tech climbers on the Japanese market were Toshiba, Fujitsu and Hitachi.

Japan Telecom was up 10 per cent on the back of newspaper reports suggesting that telecoms giants BT and AT&T would each take a stake in the company.