In Tokyo, the Nikkei 225 was 0.28 percent lower to 16,785.69 on Friday.

The Topix index closed at 1,616.62, while the Mothers market was higher, ending the session at 732.72 for a gain of 1.7 percent.

The pharmaceuticals sector was mixed.

Chugai Pharmaceutical (TYO: 4519) was 2.6 percent lower to ¥1,897 after it said it would need to extend clinical tests for a new anemia drug, while Daiichi Sankyo (TYO: 4568) gained 4.6 percent to ¥3,450 on the news that the US Food and Drug Administration approved its new blood pressure medication.

House builders were also mixed.

While Daiwa House Industry (TYO: 1925) dropped 0.1 percent to ¥1,499, Sekisui House (TYO: 1928; OTC: SKHSY) was 0.6 percent higher to ¥1,446.

In the real estate sector, Mitsubishi Estate (TYO: 8802) was down 3 percent to ¥3,290.

Consumer lender Takefuji (TYO: 8564) added 5.8 percent to ¥2,280 after it announced a share buy-back.

Camera and copier maker Canon (TYO: 7751; NYSE: CAJ) gained 2.6 percent to ¥6,270 on the possibility that it might also buy back shares.

Construction equipment manufacturer Mitsubishi Heavy Industries (TYO: 7011) was 1.9 percent higher to ¥751 on the announcement that it will supply a Chinese nuclear facility.

Tokyo markets came back from Monday’s holiday there with gains.

The Nikkei 225 was up 0.55 percent to 16,401.73, while the Topix index added 0.95 percent to 1,566.83 and the Mothers market added 0.88 percent to 631.45.

With the United Auto Workers declaring a strike against General Motors (NYSE: GM) in the United States, Japanese carmakers saw gains.

Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.2 percent higher to ¥6,640 and Honda Motor (TYO: 7267; NYSE: HMC) was up 1.6 percent to ¥3,810.

Shippers were also higher after the Baltic Dry Index, which tracks bulk shipping fees, hit a new record.

Mitsui OSK (TYO: 9104) added 4.6 percent to ¥1,842, while Kawasaki Kisen Kaisha (TYO: 9107) gained 5 percent to ¥1,716.

It was Mitsui’s highest close since the beginning of August and a record high close for Kawasaki Kisen.

The real estate sector saw gains as well.

Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 4.1 percent higher to ¥2,955, while Mitsubishi Estate (TYO: 8802) was up 4.2 percent to ¥3,090.

Tokyo’s markets were mixed Tuesday.

While the Nikkei 225 added 0.71 percent to 15,877.67 and the Topix index gained 0.47 percent to 1,532.39, the Mothers market of small and mid-caps fell 2.87 percent to 656.29.

After several days of declines, the real estate sector was higher, gaining 3.5 percent as a whole on new figures showing that office rental rates were up in central Tokyo in August.

Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was 3.53 percent higher to ¥2,640, while Sumitomo Realty & Development (TYO: 8830) gained 4.1 percent to ¥3,290 and Mitsubishi Estate (TYO: 8802) added 4.3 percent to ¥2,810.

Banks were higher as well.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 1 percent higher to ¥1.04 million, while Mizuho Financial (TYO: 8411; NYSE: MFG) was up 1.1 percent to ¥664,000.

Computer game publisher Capcom (TYO: 9697) added 6.3 percent to ¥2,855 on a broker upgrade based on its sales of games for the Wii console.

The automobile manufacturing sector was slightly lower, falling 0.2 percent as a whole even though the yen had weakened slightly against the US dollar.

Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.2 percent to ¥6,430, while Honda Motor (TYO: 7267; NYSE: HMC) was 0.8 percent lower to ¥3,700.

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.

The real estate sector took a hit in Tokyo Wednesday, with the exchange’s properties sector index dropping 4.2 percent on the session on overvaluation concerns.

The declines helped send the Nikkei 225 down 1.6 percent to 16,158.45, while the Topix index dropped 1.71 percent to 1,569.47.

The Mothers market fell 2.23 percent to 717.07.

Among properties groups, Mitsubishi Estate (TYO: 8802) was 3.8 percent lower to ¥2,895 and Mitsui Fudosan (TYO: 8801; NAS: MDSFF) dropped 4.1 percent to ¥2,780.

In a related sector, Daiwa House Industry (TYO: 1925) was 3.2 percent lower to ¥1,471 after its chairman said that it wants to cut costs locally, where it fears land prices could collapse, and expand in China.

Banks were also lower.

Sumitomo Mitusi Financial Group (TYO: 8316) fell 1.5 percent to ¥872,000, its lowest share price in two years, while Mizuho Financial Group (TYO: 8411; NYSE: MFG) dropped 2.4 percent to ¥702,000.

There were gainers on the session.

Sony (TYO: 6758; NYSE: SNE) was 2.3 percent higher to ¥5,740 on the news that it is planning an IPO of its financial unit in Tokyo next month.

Meanwhile, new department store chain J-Front Retailing (TYO: 3086), created by the merger of Daimaru (TYO: 8234) and Matsuzakaya (TYO: 8235), added 6 percent to ¥975 when Goldman Sachs (NYSE: GS) initiated coverage with a “buy” recommendation and a target share price of ¥1,200.

Tokyo’s markets saw declines on Tuesday.

The Nikkei 225 fell 0.63 percent to 16,420.47 and the Topix index dropped 0.7 percent to 1,596.74, while the Mothers market was 0.1 percent lower to 733.41.

The utilities sector was lower after Kansai Electric Power (TYO: 9503) had halt power generation at a nuclear facility in western Japan due to a leak of radioactivity inside the plant.

Kansai dropped 2 percent to ¥2,690, while Tokyo Electric Power (TYO: 9501) dropped 1.6 percent to ¥3,030 on the news.

Clothing retailer Fast Retailing (TYO: 9983) was 3.6 percent lower to ¥6,490 on its declaration that it will continue to pursue acquisitions after recently failing to buy Barney’s New York.

The real estate sector was down 1.8 percent as a whole on the news that capital spending was down by 47 percent in the sector from the same quarter last year.

Mitsubishi Estate (TYO: 8802) dropped 1 percent to ¥3,010, while Mitsui Fudosan (TYO: 8801; NAS: MDSFF) was down 2.7 percent to ¥2,900.

House builder Sekisui House (TYO: 1928; OTC: SKHSY) fell 3.7 percent to ¥1,425.

In the transport sector, Kawasaki Kisen (TYO: 9107) dropped 0.78 percent to ¥1,535 and Mitsui OSK Lines (TYO: 9104) was down 1.1 percent to ¥1,725 after the price of dry freight rose again.

In Tokyo on Thursday the Nikkei 225 was 0.67 percent higher to 16,984.11 and the Topix index gained 0.03 percent to 1,669.33, but the Mothers market fell 0.21 percent to 830.18.

Gains were helped by a new report from Japan’s National Tax Agency which showed that land prices in the country were 8.6 percent higher last year, with a gain of 17 percent in Tokyo.

The report sent the real estate sector higher. Mitsui Fudosan (TYO: 8801; NAS: MDSFF) added 4.2 percent to ¥3,230, while Mitsubishi Estate (TYO: 8802) gained 6.3 percent to ¥3,200 and Tokyu Land (TYO: 8815) was up 7.9 percent to ¥1,208.

In addition, homebuilder Daiwa House Industry Co (TYO: 1925) was 4 percent higher to ¥1,570.

The retail sector also saw gains, with Fast Retailing (TYO: 9983) adding 4.8 percent to ¥6,820 on a successful bid for the Barneys New York chain of department stores, owned by Jones Apparel Group (NYSE: JNY).

Drug maker Chugai Pharmaceutical (TYO: 4519) gained 2.7 percent to ¥2,075 on an increased full-year projecting, while Astellas Pharma (TYO: 4503) was 3.1 percent higher to ¥5,050 on a fiscal first quarter net income gain of 52 percent.

In the electronics sector Pioneer (TYO: 6773) dropped 4.5 percent to ¥1,546 on a decline of 40 percent in sales of plasma televisions in the quarter, while Casio (TYO: 6952) fell 4.6 percent to ¥1,699 after it said quarterly operating profit was down 78 percent in the most recent quarter on poor sales of mobile phones.

Banks also saw declines, with Resona (TYO: 8308) down 3.3 percent to ¥238,000 and Mizuho (TYO: 8411) dropping 4.7 percent to ¥730,000.

Tokyo’s equities markets were higher on Thursday, as the Nikkei 225 added 0.6 percent to 18,116.57 and the Topix index gained 0.5 percent to 1,768.

Tokyo Electric Power (TYO: 9501) continued to decline after reports of earthquake damage to one of its nuclear power plants.

It dropped another 5.6 percent to ¥3,400 after Nomura Securities (TYO: 8604; NYSE: NMR; SGX; N33) reduced its recommendation from “neutral” to “reduce”.

The real estate sector also saw declines, with Mitsubishi Estate (TYO: 8802) down 0.9 percent to ¥3,180 and NTT Urban Development (TYO: 8933) falling 1.4 percent to ¥217,000.

The consumer finance sector saw advances after it was reported that Promise (TYO: 8574) and Sanyo Shinpan Finance (TYO: 8573) are about to agree to a merger.

Trade in both companies was halted after the reports, but Promise had added 5.9 percent to ¥3,790 and Sanyo Shinpan was 12.2 percent higher to ¥3,600 before that occurred.

Elsewhere in the sector, Takefuji (TYO: 8564) gained 7.7 percent to ¥4,404 and Aiful (TYO: 8515) was up 11.2 percent to ¥3,480.

The steel sector was up in anticipation of the release of JFE Holdings’ (TYO:5411) quarterly results, due at the end of the month.

JFE added 4.4 percent to ¥8,270, while Nippon Steel (TYL: 5401) was 4.7 percent higher to ¥919.

The Tokyo equities markets were lower on Friday as the Nikkei 225 fell 0.4 percent to 18,140.94 and the Topix index dropped 0.5 percent to 1,779.67.

The real estate sector declined after government bond yields advanced, with Mitsubishi Estate (TYO: 8802) and Sumitomo Realty & Development (TYO: 8830) each dropping 1.5 percent, to ¥3,370 and ¥3,990 respectively.

Declines in the retail sector continued as Seven & I (TYO: 3382) fell 0.8 percent to ¥3,570 even though it said profits were 6 percent higher in the three months ending in May compared to the same period last year.

TV Tokyo (TYO: 9411) was 5.3 percent lower to ¥4,090 after its second largest shareholder said he would sell his 12.5 percent stake in the broadcaster.

In Tokyo on Thursday, the Nikkei 225 closed 1.1 percent higher to 18,108.79, the first time the index has ended a session above the 18,000 level in nearly seven years. The Topix index added 0.9 percent to 1,802.90, while the Mother’s index gained 4 percent to 1,162.25. The gains came as investors reacted to Wednesday’s announcement from the Bank of Japan that it was raising the interest rate to 0.5 percent.

Banks added 0.7 percent as a sector on the expectation that higher interest rates would allow the banks to increase their margins on loans. Mitsubishi UFJ (TYO: 8306; NYSE: MTU) matched the sector’s gain, rising 0.7 percent to ¥1,520,000.

The real estate sector was also higher, adding 3.3 percent as a whole. The gains there were rather counterintuitive, as higher interest rates generally tend to hurt the market for properties. Analysts believe that the gains mean that investors believe that the rate hike is a way of the Bank showing its confidence in the nation’s economy. Mitsui Fudosan (TYP: 8801; NASDAQ: MDSFF) added 1.8 percent to ¥3,490, while Mitsubishi Estate (TYP: 8802) gained 3.5 percent to ¥3,820.

In the securities sector, Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) outstripped the sector as a whole, adding 4.9 percent to ¥2,770, while the sector gained 4.7 percent on the session.