Around the World's Markets: Tokyo

THE NIKKEI 225 closed flat as investors took profits after it surged past 17,000 in the morning for the first time since 30 March last year, traders said. At the close, the Nikkei was 8.94 points, 0.05 per cent, up at 16,855.63. June Nikkei futures stood 70 points higher at 16,850.

The index leapt above 17,000 after a record close in New York fuelled hopes of a global rally, and as sharp interest-rate cuts in the euro zone led to talk that investors would look to shift funds to Japan.