Around the World's Markets: Tokyo

JAPANESE STOCKS hit a seven-month high as the "Sony effect" continued to give share prices a boost. Sony leapt more than 8 per cent on the back on positive sentiment generated by Tuesday's announcement of a major restructuring effort. Stocks in other electrical groups also rose, pushing the Nikkei 225 to a close of 15,480, up 383.3 points, or 2.54 per cent.

However, analysts were sceptical about the sustainability of the rally, noting that domestic houses had already started to take profits.