Around the World's Markets: Tokyo

JAPAN'S NIKKEI index was little changed after Prime Minister Keizo Obuchi provided no surprises in his first policy speech to parliament. The Nikkei dropped 47.05 points, or 0.30 per cent, to 15,829.17. That brought its loss for the week to 549.8 points or 3.36 per cent.

The broader Topix index dropped 1.79 points, or 0.15 per cent, to 1,225.30.The Japanese currency fell as low as 145.20 to the dollar, down from 144.38 in New York trading yesterday, as traders remained sceptical about Mr Obuchi's prescription for Japan's ills.