Tokyo’s markets gained on Monday.

The Nikkei 225 added 1.17 percent to 16,698.08, while the Topix index had its best day in a month with a gain of 2.07 percent to 1,606.49.

The Mothers market of small and mid-caps was up 3.7 percent to 965.17.

Carmakers were higher after Nissan (TYO: 7201) said that operating profit in its fiscal second quarter was up by 12 percent despite analyst sentiment that profits would be down in the quarter.

Nissan added 14.2 percent to ¥1,283, while Honda Motor (TYO: 7267; NYSE: HMC) and Toyota Motor (NYSE: 7203.T; NYSE: TM; LSE: TYT) each gained 3 percent, to ¥4,160 and ¥6,430 respectively.

In addition, Calsonic Kansei (TYO: 7248), which makes parts for Nissan, added 6.9 percent to ¥620.

Banks were higher after US mortgage lender Countrywide Financial (NYSE: CFC) predicted that it would return to profit in the fourth quarter, raising sentiment that the worst of the subprime crisis could be over.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was up 4.7 percent to ¥1,091 while Mizuho Financial (TYO: 8411; NYSE: MFG) was 5.6 percent higher to ¥639,000 and Sumitomo Mitsui (TYO: 8316) added 9.5 percent to ¥919,000.

Tokyo’s markets made gains Friday.

The Nikkei 225 was up 1.36 percent to 16,505.63, while the Topix index added 1.67 percent to 1,573.97 and the Mothers market jumped 4.73 percent to 930.77.

With oil prices in record territory above $90 per barrel, traders saw gains.

Mitsubishi Corp. (TYO: 8058; OTC: MSBHY) was 4 percent higher to ¥3,640 while Mitsui & Co. (TYO: 8031) gained 5.6 percent to ¥3,030.

In the oil sector, Inpex (TYO: 1605) added 3.3 percent to ¥1.27 million.

Automobile manufacturers were higher after Honda (TYO: 7267; NYSE: HMC) reported that profits were up by 63 percent in its fiscal second quarter and raised its full-year income outlook by 8 percent.

Honda’s shares added 8.9 percent to ¥4,040 on the news, while Nissan Motor (TYO: 7201) was up 3.2 percent to ¥1,124 and Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 4.9 percent higher to ¥6,240.

Quarterly results also helped Sony (TYO: 6758; NYSE: SNE), which added 8.8 percent to ¥5,560 after fiscal second quarter profits were higher than expected and Nomura raised its recommendation on the electronics and entertainment conglomerate from “neutral” to “strong buy”.

On the other hand, office equipment manufacturer Ricoh (TYO: 7752) fell 4.2 percent to ¥2,280 after half-year income results were poorer than expected and Credit Suisse dropped its recommendation to “neutral”.

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.

In Tokyo on Monday the Nikkei 225 was 3 percent higher to 15,732.48, while the Topix index added 2.9 percent to 1,523.57 and the Mothers market was up 0.98 percent to 695.18.

Export-focused stocks saw gains after the yen weakened versus the US dollar.

The automobile manufacturing sector was up around 4 percent as a whole, with Honda Motor (TYO: 7267; NYSE: HMC) adding 3.46 percent to ¥3,590.

Nissan Motor (TYO: 7201) gained 3.69 percent to ¥1,097, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was up 4.2 percent to ¥6,450 and Isuzu Motor (TYO: 7202) was 5.3 percent higher to ¥517.

In the electronics sector, Sony (TYO: 6758; NYSE: SNE) added 3.17 percent to ¥5,210, while camera maker Canon (TYO: 7751; NYSE: CAJ) was up 7.6 percent to ¥5,810.

In Tokyo on Thursday, the Nikkei 225 was down 1.99 percent to 16,148.49 and the Topix index fell 1.67 percent to 1,567.46 as both indices closed at their lowest level since November 2006.

The Mothers market of small and mid-caps dropped 3.03 percent to 728.89.

A strengthening yen hurt exporters. Sony (TYO: 6758; NYSE: SNE) fell 1.8 percent to ¥5,420.

Carmakers were also affected. Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) closed at ¥6,670, while Nissan Motor (TYO: 7201) dropped 2.61 percent to ¥1,119 and Honda Motor (TYO: 7267; NYSE: HMC) was down 3.57 percent to ¥3,780.

In the banking sector, Mizuho Financial Group (TYO: 8411; NYSE: MFG) was 1.48 percent lower to ¥666,000 after dropping by 8 percent in earlier trade.

Tokyo’s major indices actually saw the least of the losses in the region as the Nikkei 225 and the Topix index each dropped 2.19 percent, to 16,870.98 and 1,668.85 respectively.

However, the Mother’s market of small and mid-caps dropped 3.79 percent to 831.92.

Banks were hit hard, with Mitsubishi UFJ (TYO: 8306; NYSE: MTU) falling 4.7 percent to ¥1.21 million and Mizuho (TYO: 8411; NYSE: MFG) dropping 9 percent to ¥766,000.

Both banks reported significant declines in net income in the most recent quarter.

Export-focused sectors also saw declines.

Among carmakers, Honda Motor was 1.4 percent lower to ¥4,240, while Nissan Motor also fell 1.4 percent, to ¥1,254.

Mazda Motor was down 3.2 percent to ¥659.

In the electronics sector, Sony (TYO: 6758; NYSE: SNE) was 2.9 percent lower to ¥6,130, while TDK (TYO: 6762; NYSE: TDK; LSE: TDK) fell 12 percent to ¥9,070 on a drop of 11 percent in its operating profit, prompting UBS (TYO: 8657; NYSE: UBS; SWX: UBSN) to drop its recommendation from “neutral” to “reduce”.

Companies related to the semiconductors sector declined on rumors that Apple (NAS; AAPL; LSE: ACP; FWB: APC) could cut production of its iPhone.

Kyocera (TYO; 6971),which makes mobile phones and ceramic chip condensers, was 4.3 percent lower to ¥11,010, while Murata Manufacturing (TYO: 6981), which makes similar components, was 4.9 percent lower to ¥8,520 on the Osaka exchange.

Tokyo equities markets were lower on Thursday as the Nikkei 225 dropped 0.36 percent to 17,984.14 and the Topix index was 0.3 percent lower to 1,763.06.

The semiconductors sector was lower, with Tokyo Electron (TYO: 8035) down 2 percent to ¥8,810 after it said that orders were down significantly in the most recent quarter.

In addition, chip-testing equipment maker Advantest dropped 1.9 percent to ¥5,300.

Other declines came among restaurant operators after the announcement that McDonald’s Holdings Japan (TYO: 2702) will open 15 cafes during the summer.

The new cafes are expected to provide competition to Doutor Coffee (TYO: 9952), which dropped 3 percent to ¥2,090.

Nippon Restaurant System (TYO: 2775), getting ready to merge with Doutor, fell 3.3 percent to ¥3,530, but McDonald’s Japan added 0.1 percent to ¥2,000.

Carmakers were mixed on the session. Nissan Motor (TYO: 7201) was 1.5 percent higher to ¥1,324, while Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 0.4 percent to ¥7,630.

Banks were lower in Tokyo on Friday and that, with a yen that was stronger versus the US dollar, sent equities markets lower on the session. The Nikkei 225 dropped 0.7 percent to 16,744.15, while the Topix index fell 1 percent to 1,677.06.

The banking sector was down 2.5 percent as a whole. Mizhuo Financial (TYO: 8411; NYSE: MFG) dropped 2.3 percent to ¥753,000, while Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 3 percent lower to ¥1,310-,000. Banks have not seemed to be able to take advantage of higher rates to widen loan margins, as it had been expected they would do.

Automobile manufacturers, with their emphasis on exports, were hurt by the stronger yen. Toyota Motor (TYO: 7203; NYSE: TM; LSE: TYT) was down 0.7 percent to ¥7,610 and Nissan Motor (TYO: 7201; NAS: NSANY) dropped 0.9 percent to ¥1,285.

The electronics sector did better on the session. Electronics parts maker TDK (TYO: 6762; NYSE: TDK; LSE: TDK) added 4.8 percent to ¥9,950 on the news that it will purchase Alps Electrics (TYO: 6770), which makes hard disk drives. Alps gained 5.3 percent to ¥1,362.

The Tokyo equities markets bounced back from Monday’s sell-offs to end the session higher on Tuesday. The Nikkei 225 closed up 0.4 percent to 17,406.86, while the Topix index was 0.9 percent higher to 1,732.42.

As the yen weakened late in the day, export-focused stocks saw gains. In the automobile manufacturing sector, Nissan Motor added 0.3 percent to ¥1,387 after steep declines on Monday. Toyota Motor was 1.8 percent higher to ¥7,960, while Honda Motor gained 2 percent to ¥4,620.

In the electronics sector, Canon added 1.3 percent to ¥6,230. Sony was 2.5 percent higher to ¥5,840. Meanwhile, camera manufacturers were helped not only by the weakness of the yen but by the shift to digital cameras. Nikon and Olympus both had significant gains in the last quarter of 2006 and both upped their full-year expectations. Olympus added 3.9 percent on the session to ¥4,050, while Nikon gained 5.4 percent to ¥2,750.

Even Nikko Cordial saw a gain of 1.9 percent to ¥1,175 after it was revealed that US investment house Harris Associates had acquired a 5 percent stake in Nikko.

The banking sector was lower after Goldman Sachs downgraded the entire sector from “attractive” to “neutral”. Mitsubishi UJF dropped 0.7 percent to ¥1.41 million.

A stronger yen and declines in export-focused shares send the Tokyo equities markets lower on Monday. The Nikkei 225 dropped 1.1 percent to 17,244.80, while the Topix index was 1.5 percent lower to 1,716.28.

The automobile manufacturing sector was hurt not only by the strengthening yen but also by Nissan Motor’s quarterly report, which showed net profits down 23 percent. Nissan also issued a cut it its projections for the full year, sending its shares 8.3 percent lower to ¥1,383. Nissan’s report also sent other carmakers lower. Toyota Motor fell 1.6 percent to ¥7,820, while Honda Motor dropped 3.6 percent to ¥4,530.

In the electronics sector Matsushita Electric Industrial, which makes the Panasonic brand of consumer electronics, was 1.7 percent lower to ¥2,355, while Toshiba fell 2.1 percent to ¥737, again hurt by the yen’s rise versus the US dollar. The yen was trading at ¥120.8 against the greenback, compared to the ¥121.4 where it sat on Friday.

Domestic sectors did not fare much better. Telecommunications giant Nippon Telegraph & Telephone was 2.4 percent lower to ¥610,000 after reiterating its previous full-year guidance, which led investors to assume that it expects no growth in profits for the year.