Tokyo - Tokyo stocks rose again on Friday, buoyed by another surge on Wall Street on the New York markets.

The benchmark Nikkei 225 Stock Average gained 316.93 points or 4.4 per cent by 9:46 am, at 7,515.18.

The broader Topix index of all first section issues was also up by 17.61 points or 2.51 per cent, at 718.54.

Wall Street continued its three-day rally with the three major indices up about 4 per cent on Thursday led by General Electric and Bank of America shares.

Tokyo  - Japan Friday signalled its plans to participate in the international counter-piracy mission off the coast of Somalia, on the Horn of Africa.

Defence Minister Yasukazu Hamada ordered two destroyers to the waters off Somalia, Japan's news agency Kyodo reported.

Each ship is equipped with two helicopters and two speed boats.

The move marks the first time that Japan is sending self defence vessels to participate in such an operation in foreign waters. The destroyers are to be deployed into the Gulf in early April.

Earlier Thursday, European Union defence officials said they had no plans to boost its Somali counter-piracy mission off the Somali coast.

Tokyo  - Shoes don't always have to be made of leather. Vinyl in fact is the latest rage in spring shoe style in Japan.

It doesn't matter whether the shoes are high heels, ballerinas or wedge sandals, the main thing is they have to be colourful and lively. The shrill vinyl for fashion-conscious Japanese are not only hip, they also are cheaper than leather shoes. In the current economic hard climate, their easy-on-the-budget price is welcome, wrote the Nikkei Weekly business magazine.

Tokyo  - Stocks in Tokyo fell in Thursday morning trading when investors sold shares to lock in profits from the previous day's gains.

The benchmark Nikkei 225 Stock Average fell 79.02 points, or 1.07 per cent, to 7,297.1 after closing 4.55 per cent higher Wednesday.

The broader Topix index of all first-section issues also fell 15.93 points, or 2.21 per cent, to 706.35, a day after rising 2.67 per cent after surges on Wall Street and hopes for stabilization in the financial industry.

Tokyo  - Japan's economy shrunk an annualized 12.1 per cent in the final quarter of 2008, according to revised statistics released Thursday by the Japanese government.

Initial figures had projected a 12.7-per-cent contraction for the gross domestic product (GDP.)

Nonetheless, in light of an unprecedented drop in exports, Japan's economy has shrunk the most since the oil crisis 35 years ago.

According to the revised figures, GDP in the third quarter of 2008 shrank only 3.2 per cent instead of the 3.4 per cent initially projected.

Tokyo  - Japanese orders for machinery fell for the fourth straight month in January, the longest losing streak in at least 20 years, as the global recession strangled exports and profits.

The Cabinet Office said new orders for capital investment declined 3.2 percent from December, but less than most predictions.

The economy recorded its first current-account deficit in 13 years in January, meaning that many companies will have less cash for capital investment. Tokyo Electron Ltd., the world9s second-largest maker of semiconductor gear, forecasts a year without profits.