Around the World's Markets: Tokyo

Thursday 18 February 1999 00:02 GMT

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TOKYO STOCKS edged lower yesterday, with the recent rally in share prices sparking a bout of profit-taking. The benchmark Nikkei index ended down 73.97 points, or 0.52 per cent, at 14,158.67. Traders said prices had been hit by the unwinding of corporate cross-shareholdings ahead of the Japanese fiscal year end.

Kazunori Jinnai, deputy general manager of equities at Daiwa Securities, said: "The day started well, but as the Nikkei approached the mid-14,000 level the pressure to sell grew, led by futures selling."

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