Banks were lower in Tokyo on Friday and that, with a yen that was stronger versus the US dollar, sent equities markets lower on the session. The Nikkei 225 dropped 0.7 percent to 16,744.15, while the Topix index fell 1 percent to 1,677.06.

The banking sector was down 2.5 percent as a whole. Mizhuo Financial (TYO: 8411; NYSE: MFG) dropped 2.3 percent to ¥753,000, while Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 3 percent lower to ¥1,310-,000. Banks have not seemed to be able to take advantage of higher rates to widen loan margins, as it had been expected they would do.

Automobile manufacturers, with their emphasis on exports, were hurt by the stronger yen. Toyota Motor (TYO: 7203; NYSE: TM; LSE: TYT) was down 0.7 percent to ¥7,610 and Nissan Motor (TYO: 7201; NAS: NSANY) dropped 0.9 percent to ¥1,285.

The electronics sector did better on the session. Electronics parts maker TDK (TYO: 6762; NYSE: TDK; LSE: TDK) added 4.8 percent to ¥9,950 on the news that it will purchase Alps Electrics (TYO: 6770), which makes hard disk drives. Alps gained 5.3 percent to ¥1,362.

The Tokyo equities markets joined the rest of Asia, and the rest of the world, in declines on Wednesday. The Nikkei 225 fell 2.9 percent to 16,676.89, while the Topix index also dropped 2.9 percent on the session, to 1,674.94.

Export-focused sectors were lower on earlier strengthening of the yen. The automobile manufacturing sector was down 2.8 percent as a whole. Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) performed even worse than the sector, dropping 3.2 percent to ¥7,540.

The sea transport sector lost 2.3 percent overall, with Mitsui OSK (TYO: 9140) falling 3.8 percent to ¥1,307.

Among domestic sectors, real estate was 5.6 percent lower, with both Mitsui Fudosan (TYO: 8801; NAS: MDSFF) and Sumitomo Realty & Development (TYO: 8830) doing worse than the sector as a whole. Mitsui Fudosan was 6.4 percent lower to ¥3,220, while Sumitomo Realty & Development (TYO: 8830) dropped 6.8 percent to ¥4,540.

The iron and steel sector was also lower, by 4.1 percent, with Nippon Steel (TYO: 5401) down 3.8 percent to ¥835.

Nikko Cordial (TYO: 8603; SGX: N06) was not traded after buy orders flooded in after Citigroup (NYSE: C) was said to have raised its bid for the broker. The buy orders, at ¥1,690, were 13.4 percent higher than Tuesday’s closing price.

The Tokyo equities markets were lower on Tuesday as the yen strengthened and investors chose to take profits in sectors such as real estate and steel. The Nikkei 225 dropped 0.7 percent to 17,178.84, while the Topix index was 0.9 percent lower to 1,725.43. The declines came amid wide declines in other Asian markets.

Export-focused sectors were hurt by the yen. The automobile manufacturing sector was 0.7 percent lower as a whole, while Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) lost even more, dropping 1.1 percent to ¥7,790. Meanwhile, in the electronics sector, Sony (TYO: 6758; NYSE: SNE) was 2.1 percent lower to ¥6,110. TDK (TYO: 8326; NYSE: TDK; LSE: TDK), which makes electronics parts, however, added 3.8 percent to ¥9,650 after an upgrade from “neutral” to “buy” from Goldman Sachs (NYSE: GS).

In the steel sector, Nippon Steel (TYO: 5401) was down 2.1 percent to ¥868, while JFE Holdings (TYO: 5411) fell 2.6 percent to ¥7,350 as investors took profits following recent gains generated by consolidation rumors.

Mitsui Fudosan (TYO: 8801; NAS: MDSFF) dropped 0.9 percent to ¥3,440 in a real estate sector that dropped 1.1 percent on the session. Sumitomo Realty & Development (TYO: 8830) was 1.8 percent lower to ¥4,870.

Nikko Cordial (TYO: 8603; SGX: N06) added 6.1 percent to ¥1,490 after word from the Tokyo Stock Exchange that it will not delist the broker after all. The delisting had been widely expected after Nikko’s recent accounting scandal.

The Tokyo equities markets were higher on Monday as the yen weakened against the US dollar. The Nikkei 225 added 0.8 percent to 17,292.39, while the Topix index was 0.6 percent higher to 1,741.36.

The real estate sector gained 1.8 percent as whole as it made progress in recovering from earlier losses. Mitsui Fudosan (TYO: 8801; NAS: MDSFF) added 1.5 percent to ¥2,470, while Sumitomo Realty & Development (TYO: 8830) was 2.9 percent higher to ¥4,960.

In the telecommunications sector, KDDI (TYO: 9433) gained 1.6 percent to ¥920,000 on the news that it will use cables owned by East Japan Railway (TYO: 9020) to offer fibre-optic broadband services.

Export sectors were helped by the weakness of the yen and indications that the US economy is remaining strong. Ceramics maker Kyocera (TYO: 6971; NYSE: KYO) and consumer electronics giant Matsushita Electric Industrial (TYO: 6752; NYSE: MC) each added 1.0 percent, to ¥10,540 and ¥2,410 respectively.

Japan Tobacco (TYO: 2914) added 4.8 percent to ¥546,000 after shareholders of UK tobacco company Gallagher (LSE: GLH), voted on Friday to accept its sale to JT.

Kyoei Tanker (TYO: 9130) was 4.7 percent lower after reports in the Japanese financial press that group recurring profits in the upcoming fiscal year could drop as much as 67 percent. Kyoei specializes in marine transport of oil products.

While the Tokyo equities markets were substantially higher on Thursday, analysts stopped short of saying that the markets are back to normal trading after recent steep declines on global markets. The Nikkei 225 and the Topix index each added 1.9 percent on the session, to 17,090.31 and 1,720.96 respectively.

The oil sector saw gains based on the rise in the price of crude oil. Inpex (TYO: 1605) added 1.7 percent to ¥981,000, while Nippon Oil (TYO: 5001) gained 3.8 percent to ¥892.

Electronics were also higher after brokers issued upgrades. Sony (TYO: 6758; NYSE SNE) was 2.9 percent higher to ¥5,990 when Morgan Stanley (NYSE: MS) upped its target share price from ¥5,900 to ¥7,000 as it praised the company’s recovery. Toshiba (TYO: 6502) added 5 percent to ¥750 on an upgrade, from “neutral” to “buy”, from Goldman Sachs (NYSE: GS); it was also helped by speculation that price declines for NAND flash memory were about to end.

The steel sector was up 3.5 percent as a whole, with Nippon Steel (TYO: 5401) outpacing the sector as it gained 4.5 percent to ¥891.

Shippers added 3 percent as a sector, with Nippon Yusen (TYO: 9101) adding 2.9 percent to ¥928.

Equities markets in Tokyo were lower on Wednesday as investors worried over the state of the US economy. The Nikkei 225 dropped 0.5 percent to 16,764.62, while the Topix index fell 0.2 percent to 1,689.60. The Mothers market of small and mid-caps was 1.2 percent lower to 1,036.58.

Export-focused stocks, which are generally more affected when investors are concerned about economic conditions in the US, were mixed. Carmaker Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) added 0.3 percent to ¥7,740. On the other hand, camera and office machinery maker Canon (TYO: 7739) dropped 2.4 percent to ¥6,070. Consumer electronics manufacturer Matsushita Electric Industrial (TYO: 6752; NYSE: MC) was 0.4 percent lower to ¥2,295.

The crackdown on interest charges in the consumer finance sector hurt Orient (TYO: 8585) after it blamed a larger than expected net loss in the year to March on having had to repay interest charges which were judged to be illegally high. The consumer lender fell 13.6 percent to ¥146.

Elsewhere in financial sectors, trouble broker Nikko Cordial (TYO: 8603; SGX: N06) added 1.3 percent to ¥1,357 on news of a bid from Citigroup (NYSE: C).

The real estate sector added 2.5 percent as a whole, with Mitsui Fudosan (TYO: 8801; NAS: MDSFF) up 3.5 percent to ¥3,270.

Retailer Aeon (TYO: 8267) dropped 3 percent to ¥2,300 after a lowered estimate of operating profits through March as a mild winter cut sales of seasonal products.

Stock market declines continued in Japan on Monday, with the Nikkei 225 down 3.3 percent to 16,642.25, beginning with a drop of over 340 points in the first fifteen minutes of the session and ending up 575.68 points lower on the session. The Topix index was also lower, falling 3.4 percent to 1,662.71. The Mothers market of small and mid-cap stocks was 7.4 percent lower to 988.14, its lowest closing level ever. Losses came in both domestic and export-focused sectors.

Automobile manufactures dropped 3 percent as a whole, with Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) down 3.2 percent to ¥7,460. Meanwhile, machinery makers were down 4.7 percent as a sector. Komatsu (TYO: 6301), which makes construction equipment, fell 4.1 percent to ¥2,475.

Among domestic sectors, consumer finance lenders saw declines. Aiful (TYO: 8515) was 7.6 percent lower to ¥2,920.

The real estate sector was down 4.4 percent as a whole. Sumitomo Realty & Development (TYO 8830) did even worse than the sector as it dropped 6.6 percent to ¥4,400.

In the telecommunications sector, Softbank (TYO: 9984) was down 6.4 percent to ¥2,565, hurt by brokerage warnings about its accounting practices last week.