Around the World's Markets: Tokyo

Friday 09 July 1999 23:02 BST

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JAPANESE TRADERS took advantage of a lack of confidence-boosting news on the economy to lock in gains made on recent rallies, leaving shares marginally lower.

The Nikkei 225 average closed down 29.92 points or 0.17 per cent at 17,937.73.

Traders said profit-taking pressure was strong above the psychologically significant 18,000 level. Analysts said the rally above 18,000 early this week to the highest level in more than 21 months was somewhat overdone.

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