Around the World's Markets: Tokyo

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The Independent Online
THE NIKKEI 225 index lost 172.06 points, or 1.3 per cent, to close at 13,070.73 as lenders fell on fears that a government plan to recapitalise banks would be difficult to implement. Japanese banks may be forced to accept public funds from the 43 trillion yen rescue package approved on Monday, but there are stringent conditions attached.

Concern about increasing bankruptcies also weighed on financials. Corporate bankruptcies rose 18.8 per cent in September, and bankruptcy debts increased 320 per cent 3 trillion yen, a post-war high.