In Tokyo on Thursday, the Nikkei closed above the 17,000 level for the first time in over five years, ending the session up 0.6 percent to 17,045.34. The Topix index was up as well, by 0.9 percent to 1,726.68. Banking and export companies accounted for most of the upward movement.

Real estate saw gains on the day, with the sector as a whole adding 1.8 percent. Mitsui Fudosan and Mitsubishi Estate each were up by 1.5 percent, to ¥2,675 and ¥2,755 respectively. Tokyu Land gained 2.3 percent to ¥1,046.

Banks were up 3 percent as a sector on higher profits estimates for the 2005-2006 and the 2006-2007 fiscal years for eight large banks by Goldman Sachs. Mitsubishi UFJ, the world’s largest bank when ranked by assets, added 4.1 percent to ¥1,780,000. Mizuho, meanwhile, gained 2.4 percent to ¥955,000.

Among export-dependent sectors, transport equipment was up 1.1 percent. Toyota advanced by 1.3 percent to ¥6,470 and Nissan was up 0.7 percent to ¥1,401.

Electrical machinery also gained on the day. Sony added 1.5 percent to ¥5,450, while Hitachi gained 1.4 percent to ¥822.

Equity markets in Tokyo were up on Wednesday as the yen weakened but confidence in Japan’s economic recovery strengthened. The Nikkei 225 closed out the day up by 1.5 percent to 16,938.41, its highest ending level in five years, while the Topix index added 1.1 percent to end the session at 1,711.54.

The real estate sector was up again, with Tokyu Land and Mitsubishi Estate each gaining 1.7 percent, to ¥1,022 and ¥2,715 respectively, while NTT Urban Development added 2 percent to ¥983,000. A national land price survey showed that prices have risen in Tokyo, Osaka, and Nagoya for the first time in 15 years.

Banking was also up on the day, by 1.3 percent as a sector. Mitsubishi UFJ added 1.8 percent to ¥1,171,000.

An increase in the price of crude oil sent shares in upstream oil companies up. AOC added 5.1 percent to ¥2,165, while Japan Petroleum Exploration gained 4.2 percent to ¥7,240.

Export-dependent companies benefited from the rise in the value of the dollar after the US Federal Reserve again raised interest rates. NEC added 2.6 percent to ¥776, while Matsushita Electrical, which makes the Panasonic brand, gained 2.3 percent to ¥2,635. Toshiba advanced by 2 percent to ¥672. Sony was up 1.9 percent to ¥5,370.

The Tokyo equities markets saw gains on Monday, with the Nikkei 225 up 0.5 percent to 16,650.10 and the Topix index 0.3 percent higher at the close to 1,693.84.

The real estate sector gained 1.1 percent as a whole, building on Friday’s gains after the release of a new survey on land prices in Japan. Mitsui Fudosan added 1 percent to ¥2,605, Sumitomo Realty & Development was up 1.7 percent to ¥3,040, and Mitsubishi Estate advanced by 1.9 percent to ¥2,615.

Even though the land price survey showed that property price deflation in Japan is coming to an end, some analysts pointed out that the price hikes are coming primarily in large urban centers while prices elsewhere are still falling. Despite this, the advances in the sector are not as large as some analysts expected they would be.

The securities sector was down by 1.9 percent on the day as investors continue to take profits there. Nomura was down by 1.4 percent to ¥2,535 and Daiwa lost 3 percent to ¥1,509.

The more export-dependent chip-related sector was up after gains in the Nasdaq Composite in New York overnight. Tokyo Electron was up 0.8 percent to ¥7,550, while Advantest gained 1.4 percent to ¥13,230.

The Tokyo equities markets were down on Wednesday as investors took profits. The Nikkei 225 ended the day down by 0.8 percent to 16,495.48, while the Topix index was down 0.1 percent to 1,686.35.

The semiconductor sector was down on the day after Microsoft announced that it is putting off the release of its new Windows Vista operating system. The new release was expected to increase the demand for chips. Elpida Memory was down 3.1 percent to ¥4,100 and Advantest dropped 1.3 percent to ¥13,240.

The securities sector was down a bit as Nomura, Japan’s largest securities house, declined by 1.7 percent to ¥2,550.

Exporter Toyota, the largest automobile manufacturer in Japan, lost 1 percent on the day to ¥6,340. Elsewhere in the sector, Nissan Motor was up 1 percent to ¥1,373. Nissan’s truck manufacturing subsidiary, Nissan Diesel, gained 4.8 percent to ¥694 on the news that Volvo will purchase a 13 percent share of the company. The deal makes Volvo the largest single shareholder in the Japanese truck maker.

Educational book publisher Gakken was up 8.8 percent to ¥694 on the announcement that it has made a deal to develop and sell educational games in conjunction with game maker Square Enix, which was down 0.7 percent on the day to ¥3,020.

Tokyo equities markets saw gains on Friday after Bank of Japan’s governor made remarks on Thursday that led investors to believe that interest rates would not rise soon nor sharply. His comments helped soothe fears that real estate would see losses if rates rose rapidly.

The Nikkei 225 was up 1.5 percent to 16,339.73 and the Topix index gained 1.2 percent to 1,663.98.

The securities sector also reacted positively to the comments from the Bank’s governor, gaining 3.6 percent on the day. Nomura gained 3.5 percent to ¥2,505, Daiwa was up 3.7 percent to ¥1,498, and Nikko Cordial gained 2.8 percent to ¥1,915. Most notably, Marusan Securities added 17.4 percent to ¥1,905.

Mitsui Fudosan gained 2.4 percent to ¥2,570 as the real estate sector as a whole rose by 2.3 percent.

In the consumer finance sector, credit card company Credit Saison gained 2.9 percent to ¥5,690 when it raised its net profit forecast for the year. This news helped others in the sector, as Aiful was up 2.3 percent to ¥8,600 and Takefuji added 1.8 percent to ¥7,810.

Japanese equities markets declined significantly on Thursday on a plunging real estate sector, as concerns about the possibility of interest rate hikes worried some investors even while some analysts said the concerns were misplaced.

The Nikkei 225 fell 1.4 percent to 16,096.21, while the Topix index declined by 1.3 percent to 1,645.06.

The real estate sector dropped 3.7 percent overall, falling to below its level at the end of 2005. Sumitomo Realty & Development dropped 6.6 percent to ¥2,510, further damaged by a downgrade from Mizuho Securities. Mitsui Fudosan was down 4.4 percent ¥2,150, while Mitsubishi Estate was down 3.2 percent to ¥2,455.

Other domestic sectors were hit by interest rate concerns, as well. The banking sector dropped 2.3 percent overall, with Mitsubishi UFJ losing 2.4 percent to ¥1,650,000, SMFG down 3.2 percent to ¥1,220,000, and Resona declining by 3.1 percent to ¥374,000.

Seven & I, which operates convenience and department stores, was down 3.2 percent to ¥4,280 as the retail sector as a whole lost 1.5 percent on the day.

In export-reliant sectors, consumer electronics manufacturer Sony was down 1.8 percent to ¥5,370 when it said it will not release its PlayStation 3 game console until November.

The Tokyo equities markets were down on Tuesday as domestically-oriented stocks could not sustain the gains they achieved on Monday. The Nikkei 225 ended the day down by 0.8 percent to 16,238.36, while the Topix index dropped 0.5 percent to 1,665.79.

Retail was down 0.6 percent in the sector with Seven & I down 1.3 percent to ¥4,460. In transport, East Japan Railway also lost 1.3 percent on the day to ¥861,000. The securities sector also dropped, by 0.7 percent, with Nomura down to ¥2,350.

Real estate managed slight gains, with Tokyu Land gaining 1.2 percent to ¥1,081.

Export-reliant sectors were damaged by the yen’s climb in relation to the US dollar. Electrical machinery was down 0.8 as a sector, with Elpida Memory falling 3.1 percent to ¥4,100 and Hitachi declining 0.9 percent to ¥805. Elsewhere, Toyota was down 0.3 percent to ¥6,320.

Chugai Pharmaceutical dropped 3.5 percent to ¥2,195 on a downgrade from “neutral” to “sell” from Merrill Lynch, which cited a probable drop in sales of, Epogin, an anti-anemia drug.

Rising crude oil prices helped upstream oil companies, with Japan Petroleum up 1.6 percent to ¥6,830 and Inpex up to ¥1,050,000.

Tokyo’s equities markets were up on Monday as optimism about the economy sent shares in both export-dependent and domestic sectors higher on the day. The Nikkei 225 closed at 16,391.51, 1.5 percent higher and its highest close in over a month. The Topix index gained 1.7 percent to close at 1.674.66.

Among domestics, the banking sector was up 1.5 percent on the day, while real estate gained 2.2 percent, securities were up 2.5 percent, and retailers grew by 1.7 percent as a whole. Land transport was up 2.5 percent.

Within export-heavy sectors, automible manufacturing was up, including a 1.4 percent jump to ¥7,150 for Honda. Electrical machinery also gained, with Sony gaining 1.1 percent to ¥5,580.

East Japan Railway, Japan’s largest railroad operator, was up 4.1 percent to ¥872,000.

In the real estate sector, Mitsui Fudosan gained 1.7 percent to ¥2,640, while Tokyu Land was up 4.8 percent to ¥1,068.

Among banks, Mitsubishi UFJ, gained 2.4 percent to ¥1,730,000, while SMFG rose by 1.6 percent to ¥1,290,000. In the securities sector Nomura, Japan’s largest house, advanced by 2.6 percent to ¥2,380.

The retail sector was mixed on the day, with department store chain Mitsukoshi up 2.8 percent to ¥690 but convenience store operator Lawson down 0.9 percent to ¥4,470 on profit taking.

Japanese equities markets were up on Friday, with the Nikkei 225 gaining 0.5 percent to 16,115.63 and the Topix index adding 0.4 percent to 1,647.27, with gains in both domestic and export-dependent sectors. Analysts did not attribute the gains directly to Thursday’s decision by the Bank of Japan to tighten monetary policy, but said that the move showed confidence in Japan’s economy, encouraging investment.

The retail sector gained 2 percent as a whole, while real estate was up 2.4 percent. Mitsui Fudosan added 1.8 percent to ¥2,595, while NTT Urban Development advanced by 6.5 percent to ¥971,000.

Convenience store company Lawson gained 2 percent to ¥4,510.

The securities sector gained 1.3 percent, with Nomura 1.5 percent higher to ¥2,320, while rival Daiwa Securities gained 1.1 percent to ¥1,410. Online broker Kabu.com ended the day up by 2.1 percent to ¥294,000.

In export-dependent sectors, construction machinery manufacturer Komatsu was up 3.2 percent to ¥1,998, automobile manufacturer Honda Motor added 1.3 percent to ¥7,050, and steel maker JFE gained 1.9 percent to ¥4,370.

Tokyo equities markets were down again on Wednesday as uncertainty continued ahead of an announcement due Thursday from the Bank of Japan on whether or not it will tighten monetary policy. Analysts believe that policy will be tightened, but are divided on whether the process will begin immediately or not until April.

The Nikkei 225 dropped 0.6 percent to 15,627.49, while the Topix index was down 0.8 percent to 1,605.58.

Banking dropped 1 percent as a whole, with Mitsubishi UFJ losing 1.2 percent to ¥1,650,000.

Reverberations from the news that mobile phone company Vodafone will sell its Japanese business to Softbank continued, with Softbank losing 2.5 percent to ¥3,060. Elsewhere among telecoms, NTT DoCoMo lost 1.8 percent to ¥167,000, but KDDI gained 2.1 percent to ¥575,000.

In the oil sector, upstream companies were lower on falling crude oil prices. Teikoku Oil lost 4.5 percent to ¥1,495, while Inpex lost the same percentage to ¥1,050,000.

Real estate was up on the day, however, after Goldman Sachs forecast that a strong land price survey in late March will send share prices up. Mitsui Fudosan gained 2.7 percent to ¥2,475, while Mitsubishi Estate was up 2.5 percent to ¥2,475 and Sumitomo Realty & Development advanced by 3.1 percent to ¥2,700.