Around the World's Markets: TOKYO

Thursday 01 July 1999 23:02 BST

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SHARES SURGED in Tokyo as investors took a bullish view of the United States decision to raise interest rates by only 0.25 per cent and maintain a neutral monetary policy.

The Nikkei 225 share index touched a 21-month high of 17,972.03 before closing at 17,860.75, a rise of 331.01 points or 1.89 per cent. Sony rose 540 to 13,590 yen and Matsushita Electric climbed 125 to 2,475 yen. Hi- tech stocks were also in demand, but motors were mixed, with Mazda and Nissan both weakening.

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