Tokyo’s markets were mixed on the session Thursday.
The Nikkei 225 added 0.61 percent to 16,257, but the Topix index dropped 0.1 percent to 1,568.52 and the Mothers market was 0.79 percent lower to 711.44.
Carmakers were lower after the Organization for Economic Cooperation and Development reduced its prediction of how much the US and European economies will grow this year.
Honda Motor (TYO: 7262; NYSE: HMC) was down 0.5 percent to ¥3,810 while Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.6 percent to ¥6,630.
The real estate sector declined again. Mitsubishi Estate (TYO: 8802) fell 1.9 percent to ¥2,840, while Sumitomo Realty & Development (TYO: 8830) was 4.3 percent lower to ¥3,370.
Banks and brokerages were lower as well when Bear Stearns (NYSE: BSC) cut its projection of global economic growth for 2008 and put the chances of a recession in the US at 35 percent.
Mitsubishi UFJ (TYO: 8306; NYSE: MTU) dropped 0.9 percent to ¥1.08 million, while broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) fell 1.5 percent to ¥1,917.
In the telecommunications sector, KDDI (TYO: 9433) added 2.5 percent to ¥863,000 after Nikko Citigroup began coverage with a “buy” recommendation.