Around the World's Markets: Tokyo

STOCKS SUFFERED their second successive day of sharp losses as the overnight dip on Wall Street combined with a continued slide by the dollar against the yen. The benchmark Nikkei 225 closed down 1.9 per cent at 17,358. A drop in the value of US Internet and hi-tech shares on Nasdaq pushed down the Tokyo stock average.

The stronger yen, which makes the products of Japanese exporters more expensive and therefore less competitive overseas, also dampened prices.