Around the World's Markets: Tokyo

Thursday 26 November 1998 00:02 GMT

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THE NIKKEI 225 index slumped from Tuesday's three-month high as investors bet share prices had outpaced earnings prospects. The Nikkei fell 91.17 points, or 0.6 per cent, to 15,073.47, after two days of gains.

Honda and Sony accounted for a quarter of the decline. Industrial Bank of Japan and other lenders fell after Standard and Poor's, the US credit agency, said it may cut its credit ratings on nine Japanese banks, warning that the amount of money they planned to take to replenish their capital was inadequate.

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