Around the World's Markets: Tokyo

SHARES JUMPED following Thursday's confirmation by Japan's ruling Liberal Democratic Party that it would form a coalition with an opposition party. The Nikkei index rose 425.48 points, or 2.96 per cent, to close at 14,779.94.

Traders were encouraged by Thursday's statement that there would be a fundamental review of taxation issues as part of coalition talks. The market was undaunted when Japan's ministry of finance announced it would sell 1 million state-owned shares in Nippon Telegraph & Telephone.