In Tokyo the Nikkei 225 was up 0.88 percent Thursday to 16,153.82, while the Topix index added 0.69 percent to 1,568.23 and the Mothers market gained a bare 0.03 percent to 716.29.

Volume was low, with only around 1.52 billion shares trading hands during the session.

Traders were up on higher oil prices.

Mitsubishi Corp (TYO: 8058; OTC: MSBHY) was up 3.7 percent to ¥3,080, while Mitsui & Company (TYO: 8031) was 1.4 percent higher to ¥2,260 on reports that it has won a contract in conjunction with a South Korean engineering and construction group to build a diesel processing plant in Egypt.

Also higher on higher oil prices was refiner Nippon Oil (TYO: 5001), which added 4.3 percent to ¥937.

Electronics-related companies were also higher after the yen weakened.

Sony (TYO: 6758; NYSE: SNE) gained 1.2 percent to ¥5,290, while rival game-console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was up 2.5 percent to ¥53,300 in Osaka.

Retailers were down on the session after new data revealed that retail sales were down by 2.2 percent in July against an expected drop of only 0.8 percent.

Mitsukoshi Ltd (TYO: 2779) was 2.4 percent lower to ¥521, while clothing retailer Fast Retailing fell 3.1 percent to ¥6,670.

Major equities markets in Tokyo were lower on Wednesday.

The Nikkei 225 fell 0.8 percent to 17,858.42, while the Topix index dropped 0.68 percent to 1,754.03.

On the other hand, the Mothers market of small and mid-caps added 0.66 percent to close at 857.81.

The retail sector was mixed.

In mergers rumors, department stores Mitsukoshi (TYO: 2779) and Isetan (TYO: 8238) were said to be talking about making a capital alliance and could look to merge later on.

Mitsukoshi added 7.51 percent to ¥587 and Isetan closed even at ¥1,901, while elsewhere in the retail sector, Seven & I (TYO: 3382) fell 0.29 percent to ¥3,490.

Exporters were hurt by a stronger yen.

In the automobile manufacturing sector Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.33 percent lower to ¥7,410, while Honda Motor (TYO: 7267; NYSE: HMC) dropped 1.78 percent to ¥4,420.

In the electronics sector Sony (TYO: 6758; NYSE: SNE) was down 0.32 percent to ¥6,280 and Matushita Electric Industrial (TYO: 6572; NYSE: MC) fell 3.59 percent to ¥2,285.

In the oil sector, Nippon Oil (TYO: 5001) dropped 3.86 percent to ¥1,121 as the price of crude oil continued to decline.

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.

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.

Gains in domestic stocks sent the Nikkei 225 to its highest closing level in three months on Tuesday after new data showed that Japan’s birth rate, which has been dropping, has begun to rise again. The Nikkei 225 added 1.3 percent to 16,181.17, while the Topix index was 1.1 percent higher to 1,641.77.

The birth rate news helped manufacturers and sellers of baby goods. Baby goods and clothing retailer Nishimatsuya added 3.6 percent to ¥2,180, while Wakodo, which makes baby food, gained 5.5 percent to ¥4,960. With the number of weddings also growing, wedding ceremonies planner Take and Give Needs was 3.3 percent higher.

Real estate and securities were also higher on the day, as higher birth rates indicate stronger demand to come. Mitsui Fudosan gained 2.6 percent to ¥2,585 as the real estate sector as a whole was 2.1 percent higher. The securities sector was up by 2.8 percent, as Nomura added 3 percent to ¥2,265 and Daiwa was up 3.2 percent to ¥1,436.

The oil sector also saw gains after Monday’s rise in crude oil prices. Oil and gas exploration group Inpex Holdings was 1.9 percent higher to ¥1,060,000, while oil distributor Nippon Oil added 2.8 percent to ¥945.

Exporters also saw gains on the day, with carmaker Toyota adding 1.1 percent to ¥6,440 and camera manufacturer Olympus gaining 4.4 percent to ¥3,340.

Declines in stocks related to commodities sent the Tokyo equities markets lower on Tuesday. The Nikkei 225 dropped 1.4 percent to 14,648.41, while the Topix index declined by 1.1 percent to 1,510.32. The Mother’s index of small and mid-cap stocks was also down, by 2.1 percent.

Transport-related stocks were down on the day. Japan’s largest airline, JAL, lost 2 percent to ¥299 on news of a possible strike on Wednesday that could disrupt flight schedules. Railways were down as well. Hankyu lost 4 percent to ¥535 after it said it had paid more than it intended to for Hanshin Electric Railway, which was down 5.4 percent to ¥848.

Commodities-related stocks fell as concerns continued about the state of the US economy as well as in reaction to Monday’s news that China’s central bank has begun a program to decrease lending, which could see demand for commodities there decline. Sumitomo Metal Mining lost 4.5 percent to ¥1,253, while Mitsui Mining & Smelting dropped 3.8 percent to ¥638.

Falling crude oil prices sent shares in oil-related companies lower. Nippon Oil declined by 0.9 percent to ¥799, while refiner and distributor Cosmo was down 2 percent to ¥502 and Inpex fell 3 percent to ¥890,000.

Glassmakers were also lower on the day. Asahi Glass, Japan’ largest, was down 2.3 percent to ¥1,417, while Nippon Sheet Glass dropped 4.1 percent to ¥615 as investors showed their displeasure that it now owns UK glassmaker Pilkington.

Advances were seen in the pharmaceutical sector, where Daiichi Sankyo added 1.4 percent to ¥2,930, as well as in restaurants, where Yoshinoya D&C added 2.2 percent to ¥229,000 on the prospect that US beef imports might resume soon.

Oil-related stocks were up on the day in Tokyo on Thursday, but there was very little movement in the equities markets as a whole. The Nikkei dropped slightly, by 0.2 percent to 17,317.53, while the Topix index was unchanged at 1,747.86.

Oil stocks rose after a report that wholesale gasoline prices could go up next month, possibly as much as ¥4 per litre. Nippon Oil gained 1.5 percent to ¥961, while Showa Shell added 2.9 percent to ¥1,425 and Cosmo Oil added 2.4 percent to ¥679. Japan Petroleum Exploration was up by 3.2 percent to ¥8,370. Nippon Mining, which also has oil interests, gained 1.3 percent to ¥1,152.

Trading houses were also up. Mitsubishi added 3 percent to ¥2,920 and Mitsui & Co was up 1.1 percent to ¥1,824 when it said that it was thinking about new investments to expand its commodities trading.

On the other hand, the consumer loan sector was down again on the possibility that new lending laws might reduce the maximum amount of interest lenders can charge borrowers. Aiful was down 5.4 percent to ¥6,320, while Promise declined by 2.9 percent to ¥6,600.

The paper and pulp sector was down as well, by 1.8 percent as a whole, mainly on concerns about rising raw materials costs. Nippon Paper declined by 2.4 percent to ¥484,000. Oji Paper, Japan’s largest paper manufacturer, was down 2 percent to ¥686.