Around the World's Markets: Tokyo

TOKYO STOCKS inched up to their highest point for 1999 but failed to break the psychologically-important 17,000 mark closing up 38.76 points at 16,957.27.

The Nikkei 225 succumbed to profit-taking sales in high techs, international blue chips and telecommunications stocks as investors locked in gains ahead of Japanese Golden Week holidays which begin later this week. Shares were helped by stability in the dollar-yen rate following an uneventful G7 meeting on Monday.