Around the World's Markets: Tokyo

A WEAKENING yen failed to cheer the Nikkei index, which ended little changed at 14,183.45. Downward pressure on shares from the unwinding of corporate cross-shareholdings ahead of the fiscal year-end cancelled out the boost to exporters provided by the softer yen, analysts said.

The yen hit a three-month low of 123.18 to the dollar yesterday after the Bank of Japan flooded the financial system with liquidity for the third consecutive day. The BoJ move pushed overnight rates to almost zero, and long-term rates also fell.