Around the World's Markets: Tokyo

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The Independent Online
THE BENCHMARK Nikkei 225 dropped 2.72 per cent, or 402.16 points, to finish at 14,405.64 - the lowest close since 19 November - following Thursday's drop on Wall Street. Further selling was triggered by the settlement of monthly stock future contracts.

The US dollar recovered from a dip beneath the 117-yen level as Japanese investors moved in to buy at what they saw as an attractive price. The dollar's fall followed remarks by the Bank of Japan governor, who said its rate was not unreasonable.