Around the World's Markets: Tokyo

Tuesday 11 August 1998 23:02 BST

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THE NIKKEI average ended 1.4 per cent down as the yen's slide to an eight-year low and weakness in other Asian stock markets dented the Tokyo bourse, already undermined by weak banking stocks.

Traders said the Nikkei would keep posting losses unless the yen's downward trend is reversed. The Nikkei closed down 219.43 points at 15,406.99, after briefly dropping as low as 15,350.

The dollar surged above 147 yen in late Tokyo trading.

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