A gunman has taken a Government official hostage and barricaded himself into an office in the Tokyo Stock Exchange.

The man walked into the building in central Tokyo around 1pm local time and took the lift to the 14th floor, where the executive offices are located.

He presented his business card and was served tea in the normal way as he waited for a Finance Ministry official, Masahiro Abe.

When Mr Abe, who was on secondment to the Tokyo Stock Exchange, came out of his office to meet him he pulled out a gun.

It is reported that he fired a shot in the air and took Mr Abe hostage.

Stock exchange staff are now negotiating with the man, who demanded that the afternoon session of trading be stopped.

Officials from the stock exchange have refused his request and trading in shares worth billions of yen has continued.

Japanese government officials said the stock market was too volatile for them to accede to the gunman's demands.

He is said to be negotiating by hanging notes on the door of the office but police are working on a telephone link.

Local media say he is a 35-year-old middle manager in a large Japanese corporation who is known to have "right-of-centre" views.

He has asked for the Japanese Finance Minister, Hiroshi Mitsuzuka, to come to the building but this request has not been granted.

The gunmen's demand for business to be halted was ignored

Security in many Japanese buildings, including banks and government offices, is notoriously lax, and the gunman seems to have taken advantage of this.

Armed police in bullet-proof vests and helmets have surrounded the stock exchange and a crowd of 100 or so people has gathered outside.

Several police helicopters are also in the area.

Eiji Moriyama, who works nearby, said the hostage crisis was an inevitable symptom of Japan's financial crisis: "These are the times we live in.

"These are hard times and something like this was bound to happen."

The Tokyo Stock Exchange closed at the usual time of 3pm local time with the Nikkei stock average of the top 225 issues up 91.5 at 14,755.94 points.
 

Back to top | BBC News Home | BBC Homepage	©