Equities markets in Tokyo were up substantially on Thursday after the Dow Jones Industrial Average in New York closed at its highest level in history. The Nikkei 225 added 2.3 percent to 16,449.33, while the Topix index was 2 percent higher to 1,633.20. Export-focused stocks and domestic sectors both saw advances on the session.

The securities sector was the biggest winner, with an advance of 4.3 percent as a whole. Among the traditional brokerage houses, Nomura added 4.4 percent to ¥2,140, while Daiwa was 4.8 percent higher and Nikko Cordial gained 5.6 percent to ¥1,389. Online brokers were also higher, but did less well on the session. Monex Beans was up 1.3 percent to ¥95,300 and Kabu.com gained 3.5 percent to ¥208,000.

Among pharmaceuticals companies, Astellas added 6.8 percent to ¥5,010 after it announced larger than anticipated job cuts and a share buyback.

In export sectors, construction machinery manufacturer Komatsu gained 2.7 percent to ¥2,095, while carmaker Toyota was 2.9 percent higher to ¥6,760. Advantest added 4.2 percent to ¥6,020.

The major exception to the days gains was the electronics sector. Sony dropped another 0.2 percent to ¥4,440. Toshiba fell 5.2 percent to ¥723 on a downgrade from Goldman Sachs. The broker reduced Toshiba’s rating from “buy” to “neutral” after the electronics company said it will purchase 77 percent of US power plant company Westinghouse.

The Tokyo equities markets saw very little net movement on Tuesday, as exporters gained but domestic stocks were largely lower on the session. The Nikkei 225 added 0.1 percent to 15,874.28, but the Topix index dropped 0.1 percent to 1,591.98.

Among domestic stocks, the real estate sector was 0.5 percent lower, while banks and the securities sectors were each down by 0.7 percent over the session. In the securities sector, the declines hit both traditional and online brokerages. Nomura fell 0.9 percent to ¥2,100, while Mitsubishi dropped 2.5 percent to ¥2,130 and Mitsui was 3.6 percent lower to ¥1,474. Iwai Securities declined by 7 percent to ¥1,860. Online broker Kabu.com dropped 5 percent to ¥207,000, while rival Monex Beans was 3.3 percent lower to ¥96,700.

Meanwhile, in the banking sector, Mitsubishi UFJ fell 1.3 percent to ¥1,480,000.

In the real estate sector Mitsubishi Estate dropped 0.4 percent to ¥2,575, while Mitsui Fudosan was 0.7 percent lower to ¥2,670.

Gains in export-focused sectors were typically small. Carmaker Toyota added 0.5 percent to ¥6,280, while Matsushita Electric Industrial gained 0.8 percent to ¥2,475. Higher commodities prices sent metals companies higher. Sumitomo Metal Mining was up by 1.3 percent to ¥1,538.

The Tokyo equities markets were substantially lower on Wednesday as manufacturers felt the impact of rising prices for raw materials and as investors continued to worry about US interest rates. The Nikkei 225 was down 1.9 percent to 14,886.11, while the Topix index declined by 1.4 percent to 1,527.51.

Tiremaker Bridgestone dropped 4.3 percent to ¥2,140 after it said that rising raw materials prices were forcing it to cut its 2006-2007 profits forecast. Yokohama Rubber fell by 2.8 percent to ¥488, while Sumitomo Rubber declined by 4.4 percent to ¥1,208.

Chemical stocks were also hit by higher raw materials costs as the price of naphtha hit record highs in Asia. Nissan Chemical Industries was down 3.8 percent to ¥1,379, while Mitsui Chemicals declined by 6.8 percent to ¥704.

The export-focused automobile manufacturing sector saw losses as concerns continued about the state of the US economy. Toyota was down 1.9 percent to ¥5,700. Nissan dropped 2.3 percent to ¥1,183 after issuing warnings of poor domestic sales and rising materials costs, while Honda fell 2.5 percent to ¥3.530.

The securities sector was down 2.7 percent as a whole. Nomura declined by 3.1 percent to ¥2,035, while Nikko Cordial dropped 3.5 percent to ¥1,436 and Kabu.com fell 6.3 percent to ¥207,000.

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.

In Tokyo on Wednesday, the Nikkei 225 and Topix indexes both were down, with the Nikkei closing down by 1.6 percent to 15,932.83. The Topix fell 0.7 percent to 1,624.28.

While real estate was down, the banking sector was up while securities brokers had a mixed day.

The three largest securities houses all rose on the day. Nomura, Japan’s largest securities firm, gained 1.4 percent to ¥2,150, while Daiwa Securities gained 1.1 percent to ¥1,321 and Nikkko cordial was up 2.4 percent to ¥1,734. However, two online retail securities brokers saw their shares decline. Kabu.com fell 5 percent to ¥286,000 and Monex Beans declined by 1.2 percent to ¥160,000. This was seen as a sign that if interest rates rise, retail investors who now buy with cheap borrowed money will jump out of the market.

Movement in the banking and real estate sectors was also seen as an indication of things to come if the Bank of Japan’s zero interest rate policy ends and interest rates rise. I rates do go up, the banking sector is expected to see profits rise, as well, while real estate could see declines because it will cost more to borrow money to make purchases.

At any rate, the banking sector rose slightly on the day, with Mitsubishi UFJ gaining 0.6 percent to ¥1,620,000, while the real estate sector closed down 0.6 percent despite advancing by 2.5 percent during the day. Mitsubishi Estate dropped 1.7 percent on the day to ¥2.545.