Tokyo’s markets were mixed on Wednesday.

The Nikkei 225 was 0.1 percent higher to 17,177.89, but the Topix index dropped 0.11 percent to 1,658.18 and the Mothers market was down 1.75 percent to 857.19.

Retailers saw gains on news of a cooperation agreement between Aeon (TYO: 8267) and Japan Airlines (TYO: 9205) in which the retailer will link its electronic money card to the airline’s frequent flyer miles program.

Aeon added 6.2 percent to ¥1,784, while Japan Airlines gained 4.3 percent to ¥265.

Elsewhere in the retail sector, department store operator Takashimaya (TYO: 8233) was 3.2 percent higher to ¥1,329 on better recommendations from Mizuho Securities and Nikko Citigroup.

Mizuho raised its recommendation from “reduce” to “hold”, while Nikko upped their rating on the retailer from “hold” to “buy”.

Elsewhere in the sector, Seven & I (TYO: 3382) was up 3.7 percent to ¥3,090 while supermarket chain Daiei (TYO: 8263; NAS: DAIEY) added 6.3 percent to ¥940.

Traders and commodities-related groups were higher after oil and metals prices rose overnight.

In the oil sector, Inpex (TYO: 1605) was up 3.4 percent to ¥1.21 million, while Nippon Mining (TYO: 5016) gained 2.1 percent to ¥1,177.

Among traders, Mitsubishi and Mitsui & Co. each added 1.4 percent, to ¥3,520 and ¥2,810 respectively.

Banks were lower, however. Mizuho (TYO: 8411; NYSE: MFG) was down 1.1 percent to ¥703,000 while Sumitomo Mitsui Financial (TYO: 8316) dropped 2.5 percent to ¥948,000.

Resisting the trend to gains in the Asia-Pacific region, Tokyo equities markets were lower on Wednesday.

The Nikkei 225 traded about even at 15,900.64, while the Topix index dropped 0.3 percent to 1,544.89 and the Mothers market fell 0.02 percent to 703.56.

Exporters were lower as it was announced that Japan’s trade surplus dropped in July for the first time in 9 months.

The surplus fell by 21.1 percent from a year earlier as exports grew by 11.7 percent but imports were up by 16.9 percent.

Optical glass maker Hoya (TYO: 7741; OTC: HOCP) dropped 1.5 percent to ¥3,890.

In the semiconductors sector, Advantest (TYO: 6857; NYSE: ATE) fell 0.9 percent to ¥4,220.

The automobile manufacturing sector was also hit by negative broker comment as Goldman Sachs (NYSE: GS) dropped its full-year profits forecast for several carmakers.

Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) was 0.5 percent lower to ¥6,550, while Honda Motor (TYO: 7267; NYSE: HMC) fell 1.1 percent to ¥3,630 and Nissan was down 1.5 percent to ¥1,107.

Banks were lower on fears that losses in the subprime crisis, so far fairly muted there, could increase as well as on new data that showed bank lending up at its slowest rate in almost a year and a half in July.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) and Sumitomo Mitsui (TYO: 8316) each were 1.8 percent lower, to ¥1.08 million and ¥884,000 respectively, while Resona Holdings (TYO: 8308) dropped 3.4 percent to ¥229,000.

Gains came for companies that benefited from the news that crude oil prices were lower.

Japan Airlines (TYO: 9205) added 4.2 percent to ¥250.

The Tokyo equities markets were lower on Wednesday as both domestic and export-reliant sectors saw declines. The Nikkei 225 and the Topix index each dropped 1.7 percent to 16,946.89 and 1,663.

Domestically, the consumer finance sector was mixed when Citigroup said it would close 80 percent of its consumer finance branches in the nation, citing expectations that profitability will decline. While Credit Saison added 1.1 percent to ¥4,560, Takefuji dropped 1.3 percent to ¥5,200.

Japan Airlines was 3.1 percent higher to ¥232 after it said it will record ¥25 billion in extraordinary profit in the fiscal year ending March 31. The air carrier attributed this to a decline in pension obligations.

In the electronics sector, Sony was down 2 percent to ¥5,440 despite receiving a broker upgrade on Tuesday. Matsushita Electric Industrial fell 3.6 percent to ¥2,290 on the news that it will open a new plasma display factory which will cost it $2.4 billion. Some analysts feel that the move is not cost-effective.

The oil sector declined due to the falling price of crude oil. Inpex dropped 2 percent to ¥909,000, while Nippon Oil fell 4 percent to ¥772, hurt not only by lower oil prices but also by a downgrade from Morgan Stanley, which dropped its recommendation from “equal weight” to “underweight”. Bucking the trend, Idemitsu Kosan added 0.2 percent to ¥10,880 as Mitsubishi UFJ Securities began coverage of the oil refiner by setting a target share price of ¥12,500.

In Tokyo on Friday both the Nikkei 225 and the Topix index fell by 0.5 percent, to 16,091.73 and 1,573.54 respectively. Some of the declines were due to declines in the oil sector as crude oil prices fell, while the banking sector was also lower.

The semiconductors sector saw gains on the session on a report from the Semiconductor Equipment Association of Japan said that chip equipment is in high demand globally. Tokyo Electron was 2.8 percent higher to ¥8,930.

The banking sector was 1.1 percent lower as a whole after the Bank of Japan’s governor did not make hawkish comments about interest rates when the Bank declined to raise the rate when they met Thursday. Analysts are convinced that higher interest rates will benefit banks because of the income they will receive from higher interest payments on loans will outweigh the interest they pay to depositors. Mizuho Financial dropped 0.8 percent to ¥849,000.

In the real estate sector, Sumitomo Realty & Development fell 3.4 percent to ¥3,410 even though its reported that its consolidated recurring profit was up 83 percent. The decline was attributed to profit-taking.

The drop in oil prices sent Inpex down 3.5 percent to ¥934,000. Despite the decline in oil prices, the air transport sector was also lower, dropping 0.9 percent as a whole. Japan Airlines fell 1.4 percent to ¥217.

The Tokyo equities markets were lower on Wednesday on sell-offs in the telecommunications sector. The Nikkei 225 dropped 16,215.74, a decline of 1.1 percent, while the Topix index was 1.2 percent lower to 1,597.50.

The automobile manufacturing sector saw gains. Toyota Motor added 1.8 percent to ¥7,230 after it reported record profits in an interim report and predicted that operating profits for the full year will be at ¥2,200 billion. Isuzu Motor, meanwhile, added 12.1 percent to ¥465 on the news that Toyota will acquire a 5.9 percent share in the company.

In the telecommunications sector, Softbank dropped 4.1 percent to ¥2,340 in anticipation of the release of an earnings report. After the close, it said that it had seen profit in the first half of its fiscal year on acquisitions in its telecoms operations and better performance in its internet business.

Astellas Pharma was down 1.7 percent to ¥5,200 on a reduced full-year prediction and on negative remarks from UBS.

Japan Airlines was 1.4 percent lower to ¥218 on a report that its operating profit was down by half in the first half of its fiscal year and after it said it was cutting its full-year forecast by 24 percent. The air carrier said that its first half profit was affected by slow demand for its domestic flights.

The Tokyo equities markets were lower on Tuesday, falling on declines in export-focused stocks. Transport stocks were also lower after an overnight rise in crude oil prices. The Nikkei 225 was 0.5 percent lower to 15,557.45, while the Topix index dropped 0.7 percent to 1,549.41.

Oil and commodities stocks were higher on the gains in the prices of oil and other commodities. In the oil sector, Japan Petroleum Exploration added 1.2 percent to ¥6,850 and Inpex gained 2.1 percent to ¥907,000. Sumitomo Metal Mining was 0.8 percent higher to ¥1,457.

The shipping sector dropped 2.8 percent as a whole on the rise in oil prices. Nippon Yusen dropped 2.1 percent to ¥708, while Mitsui OSK was 3.1 percent lower to ¥832 and Kawasaki Kisen fell 3.8 percent to ¥739. Elsewhere in transport related stocks, airlines were lower as well. All Nippon Airways declined 1.5 percent to ¥469, while Japan Airlines dropped 2.6 percent to ¥225.

Carmakers were also lower, with Honda and Toyota each falling 0.8 percent, to ¥3,800 and ¥6,240 respectively.

The pharmaceuticals sector saw losses on the day. Takeda fell 1.5 percent to ¥7,210, while Astellas dropped 1.7 percent to ¥4,590.

Some individual stocks saw gains, however. Softbank, with interests in telecommunications and the internet, was 3.8 percent higher to ¥2,190. Fuji Electric added 3.3 percent to ¥587 after Nikko Citigroup initiated coverage with a target share price of ¥800.

The Tokyo equities markets saw big gains on Thursday, mostly after comments out of the United States that US inflation would likely not continue to rise. The Nikkei 225 added 3.1 percent to 14,946.84, while the Topix index was up 3.6 percent to 1,528.59. Meanwhile, the Mother’s index of small and mid-caps gained 7.1 percent to 1,225.43. Gains were seen in both domestic and export-focused sectors.

Securities, banks, and non-bank consumer finance sectors all saw substantial gains. The consumer finance sector added 6.1 percent as a whole, with Aiful up 5.3 percent to ¥5,000, while Promise was 5.7 percent higher to ¥5,720 and Sanyo Shinpan gained 6 percent to ¥5,470.

In the securities sector, Nomura added 5.1 percent to ¥2,065, Mizuho Trust advanced by 6.1 percent to ¥278, Nikko Cordial gained 6.9 percent to ¥1,338, and Daiwa Securities was up 7.8 percent to ¥1,333.

Among banks, Mizuho gained 3.6 percent to ¥961,000, while Sumitomo Mitsui added 4.2 percent to ¥1,250,000, Resona advanced by 5.5 percent to ¥362,000, and Bank of Yokohama was up 6.4 percent to ¥925.

Japan Airlines turned around its series of losses to add 6.8 percent to ¥235. The advance came after it priced new shares at ¥211, a move which seemed to spur investors to put a bit more confidence in JAL’s new share offering.

Electronics and carmakers also saw gains on the session. Canon reversed early week losses to advance by 3 percent to ¥5,400, while Sony was up 3.4 percent to ¥4,830. Matsushita Electric Industrial added 4.8 percent to ¥2,200.

In the automobile manufacturing sector, Toyota was up 3.2 percent to ¥5,800 and Honda added 4.6 percent to ¥3,640.

In Tokyo on Wednesday the Nikkei 225 added 0.4 percent to 14,500.26, while the Topix index closed flat at 1,475.42. While export-focused sectors seemed to find gains, domestic stocks were more likely to be losers for the day.

The steel sector was higher. While JFE ended the day where it started, at ¥4,480, Japan Steel Works added 1.3 percent to ¥640 and Nippon Steel gained 3.5 percent to ¥444 on the news that it will maintain its current alliance with Arcelor.

Consumer electronics stocks were mixed. Canon dropped 1 percent to ¥5,240 on the news that Dell will soon enter the Japanese color printer market with products at half the current price. On the other hand, Matsushita Electric Industrial was up 0.7 percent to ¥2,100 and Sony gained 1.1 percent to ¥4,670.

The automobile manufacturing sector was also mixed on the session. While Honda was 0.3 percent higher to ¥3,480 and Toyota added 0.9 percent to ¥870, Nissan dropped 0.2 percent to ¥1,162.

In the machinery sector, Komatsu gained 1.7 percent to ¥2,030. Industrial robots manufacturer Fanuc, meanwhile, added 3.1 percent to ¥9,280.

The banking sector was down 0.7 percent as a whole. Mizuho dropped 0.4 percent to ¥928,000, while Mitsubishi UFJ declined by 0.7 percent to ¥1,510,000 and Sumitomo Mitsui fell by 0.8 percent to ¥1,200,000.

Airlines did even worse, losing 3.6 percent as a sector. All Nippon Airways was down 1.9 percent to ¥412, while Japan Airlines dropped 6.8 percent to ¥220 after it altered the allotment of a new share offering.

Technology stocks helped send the Tokyo equities markets lower on Tuesday. The Nikkei 225 and the Topix index each lost 0.5 percent on the session, to 15,473.82 and 1,585.85 respectively.

The electronics sector was down on a strong yen and on declines in tech stocks in New York overnight. Sony dropped 0.2 percent to ¥5,040. Advantest declined by 0.9 percent to ¥12,020, while Matsushita was down to ¥2,350, 1.7 percent lower on the session.

Games developer Namco Bandai dropped 1.3 percent to ¥1,695 on the news that Zapf Creation has recommended that its shareholders reject Namco’s bid for the German dollmaker. Zapf is said to be looking for higher bids.

After Nikko Citigroup has withdrawn from its position as one of 15 underwriters for Japan Airlines’ new share issue, worth $1.9 billion, JAL’s shares declined by 2.6 percent to ¥271. The new issue will dilute existing shares by 30 to 40 percent and could be sold below current market prices in order to create adequate demand, making the issue controversial.

The Tokyo equities markets were down on Wednesday after it was revealed that North Korea had test fired several missiles, but declines were moderate. Some analysts attributed the muted reaction to the tests to the relative strength of the markets, especially after Monday’s strong Tankan report and low unemployment figures from last week. The Nikkei 225 dropped 0.7 percent to 15,523.94 and the Topix index was down 0.8 percent to 1,589.97.

Japan Airlines had losses early in the day as investors feared that an uncertain political situation would make people afraid to fly, but by the end of the day JAL had gained back the losses to close even at ¥277.

The electronics sector saw declines based on fears of what the Korea situation would do to the global economy. Sony dropped 0.8 percent to ¥5,060, while Sharp lost 1.5 percent to ¥1,809 and Matsushita Electric Industrial was down 1.7 percent to ¥2,360.

Automobile manufacturers felt the brunt of investor nervousness more strongly. Toyota fell 1.2 percent to ¥5,940, while Nissan dropped 1.9 percent to ¥1,239 and Honda was down 2.2 percent to ¥3,600.

Companies that have defense-related manufacturing among their interests saw substantial gains. Howa Machinery, which makes firearms in addition to industrial machinery, gained 6.3 percent to ¥204, while Ishikawa Seisakusho, which makes defense equipment in addition to textile machinery, added 17.2 percent to ¥204. However Mitsubishi Heavy Industries, Japan’s biggest manufacturer of defense equipment, was up by only 0.4 percent to ¥496.