Around the World's Markets: Tokyo

HOPES THAT Japanese pension funds will soon be allocating new money into the stock market helped sustain the rally in Tokyo, pushing the Nikkei 225 share index 0.3 per cent higher to 16,764.68.

A brighter-than-expected picture of prospects for the economy from Herwig Schloegl, the deputy secretary-general of the OECD, praising the measures taken by the government, also helped sentiment. High-tech shares such as Sony and NEC eased but banks and insurance shares benefited.