Around the World's Markets: Tokyo

GAINS ON Wall Street helped to boost the Nikkei 225 to a two-year high as investors hunted for Japanese telecoms and hi-tech stocks. The index closed 38.03 points up at 18,570.84, its highest since 10 September 1997.

Internet investor Softbank surged by 6.61 per cent, and mobile phone giant NTT Docomo rose by 2.37 per cent. After the close NTT said its consolidated net profits rose by 15.6 per cent in the half to September, bolstered by a rise in subscribers.