Around the World's Markets: Tokyo

JAPANESE STOCKS retreated from a two-year high hit early in the day as investors showed little enthusiasm for an 18 trillion yen economic recovery package.

The Nikkei-225 slipped 240.59 points or 1.3 per cent to close at 18,327.28, after climbing early to 18,659.55, its highest intraday level since 10 September, 1997.

Traders said there was growing concern in the market that buying had been too focused on telecommunications and high-technology sectors.