Around the World's Markets: Tokyo

JAPANESE STOCKS fell for the first time in three days as the government said it would not seek early parliamentary approval of tax breaks for home buyers.

The benchmark Nikkei 225 fell 186.44 points, or 1.3 per cent, to 14,341.37.

Meanwhile, the "Japan Premium,'' a sign of the surcharge which Japanese banks must pay to borrow overseas, zoomed to an 11-month high as the Japan's 60 trillon yen bank bailout failed to inspire confidence in lenders.