Around the World's Markets: Tokyo

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SHARES FELL 1.68 per cent amid growing scepticism over whether the government would cut sales tax. The Nikkei 225 dropped 244.77 points to 14,354.46.

Traders said the giant economic stimulus package unveiled on Monday was insufficient to reassure the market. Failure to cut sales tax would probably trigger a further slide in share prices, traders said. A visit to Tokyo by President Clinton also failed to improve market sentiment. Shares in Toshiba rose 18 to 653 after it announced aggressive restructuring plans.