Around the World's Markets: Tokyo

Tuesday 13 July 1999 23:02 BST

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JAPANESE SHARES lost ground as investors took profits after the stock market touched a new intraday high for the year.

The Nikkei 225 average closed down 93.09 points or 0.51 per cent at 18,181.09, after hitting a high of 18,343.25 earlier.

The index had hit its highest close for 21 months on Monday on strong foreign buying, amid hopes that Japan's economy is improving. "Yesterday's rally sapped some of the energy out of the market today," said one trader.

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