Around the World's Markets: Tokyo

SHARES staged a late rally in Tokyo helping the Nikkei 225 index to close 71.81 or 0.45 per cent higher at 16,199.99, the first upturn in five days.

Initially the index opened higher in line with Wall Street but continuing concerns about the bad debts of the banking system and further disappointing news on the economic outlook sent the index down 180 points, falling below 16,000 for the first time since 1 April, before the weaker yen encouraged some late bargain-hunting.