Around the World's Markets: Tokyo

JAPANESE STOCKS rose moderately yesterday on the back of gains in Wall Street. In what dealers described as thin trading, the Nikkei closed at 14,742, a 0.6 per cent gain.

The market lacked direction, with traders sitting nervously on the sidelines ahead of the public offering of Nippon Telegraph shares during this week. Not even a positive statement on taxes from Japanese Prime Minister Kaizo Obuchi could lift the lethargy.

The biggest move of the day was Takeda Chemicals, which rose 2 per cent.