Tokyo’s markets were higher Thursday.

The Nikkei 225 gained 0.89 percent to 17,106.09 and the Topix index was 1.09 percent higher to 1,617.75, while the Mothers market jumped 7.22 percent to 883.84.

Banks and brokers were higher after US bank JPMorgan Chase (NYSE: JPM; TYO: 8634) reported quarterly profits that were better than had been expected.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) added 2.3 percent to ¥1,040, while Sumitomo Mitusi (TYO: 8316) gained 3 percent to ¥848,000 and Mizuho Financial Group (TYO: 8411; NYSE: MFG) was 3.8 percent higher to ¥630,000.

Broker Nomura (TYO: 8604; NYSE: NMR; SGX: N33) was up 1.5 percent to ¥1,984 and credit card issuer Credit Saison (TYO: 8253) added 2.5 percent to ¥3,230.

Exporters did better after the yen weakened in relation to the US dollar.

Camera maker Canon (TYO: 7751; NYSE: CAJ) gained 2.7 percent to ¥6,100.

Retailers saw declines after the International Monetary Fund cut its prediction of Japanese economic growth from 2.6 percent to 2 percent for this year and from 2 percent to 1.7 percent for next year.

Departments store operator J. Front Retailing (TYO: 3086) dropped 2 percent to ¥1,026 while Seven & I (TYO: 3382) fell 2.2 percent to ¥2,870.

Tokyo’s markets were lower on the session Wednesday after banks declined on news from US bank Wells Fargo (NYSE: WFC) that it had lost $892 million to bad home equity and consumer loans in the third quarter and that earnings will likely be hurt in the fourth quarter as well.

The Nikkei 225 was 1.07 percent lower to 16,955.31 while the Topix index dropped 1.54 percent to 1,600.29 and the Mothers market fell 1.05 percent to 824.34.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 4 percent to ¥1,017 and Sumitomo Mitsui Financial Group (TYO: 8316) dropped 5.8 percent to ¥823,000.

Brokerage Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) fell 5.7 percent to ¥1,955.

Declines were also fed by losses in the steel and shipping sectors after the newly proposed rules in India there had investors worried about a slowing economy there if foreign money pulls out of the market.

In the steel sector, JFE Holdings (TYO: 5411) was 3.8 percent lower to ¥7,670, while shipper Mitsui OSK (TYO: 9104) dropped 3.4 percent to ¥1,930.

Some exporters were also lower on the day as the yen strengthened versus the US dollar.

Carmaker Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) was down 2 percent to ¥6,280 and game console manufacturer Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) fell 3.1 percent to ¥68,400.

Toymaker and distributor Tomy (TYO: 7867), however, added 8.3 percent to ¥744 said that profits doubled in its first half on sales of Transformer toys and Nintendo consoles.

Tokyo’s markets were lower on the session Tuesday.

The Nikkei 225 was down 1.27 percent to 17,137.92 and the Topix index was 1.94 percent lower to 1,625.25, while the Mothers market dropped 3.98 percent to 833.11.

There were big losses in financial services of various kinds and in the real estate sector.

Banks were lower on new concerns about the subprime mortgage crisis.

Mizuho Financial (TYO: 8411; NYSE: MFG) was 5.1 percent lower to ¥631,000 and Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was down 6 percent to ¥1,059.

Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33), meanwhile was 0.5 percent lower to ¥2,070.

In the consumer finance sector Acom (TYO: 8572) dropped 4 percent to ¥2,305 and Orix (TYO: 8591) fell 6.6 percent to ¥25,230, while Takefuji (TYO: 8564) was down 7.2 percent to ¥2,380.

Meanwhile, in the real estate sector, Sumitomo Realty (TYO: 8830) was 2.9 percent lower to ¥3,980 and Pacific Management (TYO: 8902) dropped 8.1 percent to ¥159,000.

There were gains in the oil sector after crude oil prices soared above the $86 per barrel level in the US on Monday.

Inpex (TYO: 1605) added 2.4 percent to ¥1.3 million while refiner Cosmo Oil gained 3.3 percent to ¥527.

Tokyo’s markets were higher as brokerages gained on the news that Citigroup (NYSE: C) has said it will buy out minority shareholders in Nikko Cordial (TYO: 8603; SGX: N06).

Citigroup already owns 68 percent of the brokerage.

The Nikkei 225 added 0.9 percent to 17,199.89, while the Topix index gained 1.48 percent to 1,664.01 and the Mothers market jumped 5.03 percent to 794.35.

The announcement from Citigroup sent Nikko’s shares up by the daily limit of 13.7 percent to ¥1,662.

Elsewhere in the sector, Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was 4 percent higher to ¥3,090 while Daiwa Securities (TYO: 8601) gained 5.8 percent to ¥1,178.

Banks were also higher.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was up 4 percent to ¥1,158 and Mizuho added 4.5 percent to ¥691,000.

Elsewhere, steel maker JFE (TYO: 5411) was 3.1 percent higher to ¥8,370 on the announcement that it will raise prices on steel plate by 15 percent as well as on the news that it will partner with Toshiba (TYO: 6502; LSE: TOS) to design and manufacture small and medium-sized steam turbines for power plants.

Toshiba gained 2.4 percent to ¥1,091 on the news.

In the electronics sector, Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) added 2.7 percent to ¥1,700 but Matsushita Electric Industrial (TYO: 6752) dropped 2.5 percent to ¥2,125 after production at one of its battery factories was shut down due to a fire.

Tokyo’s markets were higher on Thursday, as the Nikkei 225 had its highest close in a month and a half with a gain of 2.41 percent to 16,832.22.

The Topix index added 2.48 percent to 1,615.15 while the Mothers market was 5.52 percent higher to 720.5.

Banks were higher on rumors that investor Warren Buffett is looking to buy a stake in Bear Stearns (NYSE: BSC), boosting investor confidence that the subprime crisis will not cripple the financial services sector.

Among banks, Mizuho (TYO: 8411; NYSE: MFG) was up 4.78 percent to ¥658,000, while Resona Holdings (TYO: 8308) added 6.9 percent to ¥190,000.

Sumitomo Mitsui (TYO: 8316) gained 7 percent to ¥891,000. Regional bank Suruga Bank Ltd (TYO: 8358) was up 11 percent to ¥1,402 after it said it is talking to Japan Post about a deal.

Brokers were also higher, with Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) closing at ¥1,938 and Daiwa Securities (TYO: 8601) adding 8.6 percent to ¥1,114.

The consumer finance sector also saw gains after Takefuji (TYO: 8564) was reported to be preparing results showing that it will cross over into profit this year after losing ¥481.2 billion last year.

Takefuji was 16 percent higher to ¥2,155 after gaining the full amount allowed by the exchange in a session, while Aiful (TYO: 8515) and Promise (TYO: 8574) each gained 15 percent, to ¥1,909 and ¥2,850 respectively.

In the real estate sector, Deutsche Bank (FWB: DBK; NYSE: DB) raised its recommendations on both Mitsui Fudosan (TYO: 8801; NAS: MDSFF) and Sumitomo Realty & Development (TYO: 8830) from “hold” to “buy”.

Mitsui Fudosan was 7.7 percent higher to ¥3,210, while Sumitomo was up 7.9 percent to ¥4,090.

Elsewhere, Japan Tobacco (TYO: 2914) added 4.5 percent to ¥634,000 on a report out of London that it will bid on Turkey’s state-owned cigarette maker, Tekel.

Equities markets in Tokyo were lower on Monday.

The Nikkei 225 was 2.22 percent lower to 15,764.97.

The Topix index dropped 2.04 percent to 1,525.22 and the Mothers market was down 4.13 percent to 675.71.

The real estate sector was again instrumental in the declines as it fell 4.2 percent as a whole.

Sumitomo Realty & Development (TYO: 8830) was 4.5 percent lower to ¥3,160 and Mitsui Fudosan (TYO: 8801; NAS: MDSFF) dropped 4.7 percent to ¥2,550.

The financial services sector also saw declines once again.

Broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was down 3.3 percent to ¥1,827, its lowest in almost two years.

Banks were mixed, however.

While Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 2.8 percent lower to ¥1.03 million, Tokyo Star Bank Ltd. (TYO: 8384) gained 14 percent to ¥334,000 on reports that Advantage Partners might be interested to the tune of ¥410,000 per share.

Among export-focused sectors, the electronics sector was lower on broker downgrades.

Consumer electronics and entertainment giant Sony (TYO: 6758; NYSE: SNE) dropped 6 percent to ¥5,300 after CLSA dropped its recommendation from “buy” to “underperform”, while camera manufacturer Canon (TYO: 7751; NYSE: CAJ) fell 3.7 percent to ¥6,050 on a downgrade from “overweight” to “underweight” from HSBC Securities (LSE: HSBA; NYSE: HBC; Euronext: HSBC; SEHK: 005).

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 slide in consumer confidence in the US hurt exporters in Tokyo, where the Nikkei 225 dropped 1.69 percent to 16,012.83 and the Topix was down 1.71 percent to 1,557.55 on Wednesday.

The Mothers market of small and mid-caps fell 2.09 percent to 716.06.

A major exception to the declines was the internet sector.

In the internet sector, price-comparison site Kakaku.Com (TYO: 2371) gained 15 percent to ¥314,000 after it said it will sell part of its travel information unit to Yahoo! Japan (TYO: 4689).

Yahoo! Japan added 4.6 percent to ¥43,450 on the announcement.

Manufacturers of motor vehicles were mixed on the session.

While Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) dropped 2 percent to ¥6,530, truck maker Isuzu Motors (TYO: 7202) added 4.4 percent to ¥598 after it said it is planning to raise operating profit by expanding sales overseas.

Camera maker Canon (TYO: 7751; NYSE: CAJ) fell 2.1 percent to ¥6,400, while in Osaka game console maker Nintendo (TYO: 7974; NAS: NTDOY; FWB: NTO) was 3.7 percent lower to ¥52,000. Financial services also saw declines.

Among banks, Mitsubishi UFJ (TYO: 8306; NYSE: MTU) fell 0.9 percent to ¥1.1 million, while Sumitomo Mitusi (TYO: 8316) was down 1.3 percent to ¥890,000.

Broker Nomura Holdings (TYO: 8604; NYSE: NMR; SGX: N33) was 1.6 percent lower to ¥1,987.

The real estate sector was down 2.1 percent as a whole, while Sumitomo Realty & Development (TYO: 8830) dropped 3.3 percent to ¥3,760.

Tokyo’s markets were substantially lower Friday as the Nikkei 225 dropped 2.37 percent to 16,764.09, an five-month low, and the Topix index was 2.96 percent lower to an eight-month low of 1,633.93.

The Mothers market of small and mid-caps was down 1.84 percent to 762.53.

The financial services sector saw wide declines after the Bank of Japan said it would put ¥1 trillion into the banking system as equities markets declined globally.

Mizuho Financial Group (TYO: 8411; NYSE: MFG) fell 1.7 percent to ¥707,000, while Aozora Bank (TYO: 8304), which just went public in November, was 3.2 percent lower to ¥387 after having been as much as 12 percent lower during the session.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) dropped 3.3 percent to ¥1.18 million, investment bank Nomura (TYO: 8604; NYSE: NMR; SGX: N33) was down 4.8 percent to ¥2,080, and Shinsei Bank (TYO: 8303) fell 9.9 percent to ¥390.

All of these declines came even though Japanese banks are said to be less exposed to subprime loans than banks in the US and in Europe.

Exporters were also lower on the session.

Carmaker Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) was 2.5 percent lower to ¥7,090, while Sony (TYO: 6758; NYSE: SNE) was down 3.7 percent to ¥5,780 and camera manufacturer Canon (TYO: 7751; NYSE: CAJ) dropped 3.9 percent to ¥6,240.

The Tokyo markets were mixed Tuesday.

The Nikkei 225 managed to end the session 0.04 percent higher to 16,921.77, holding on to at least a few of its early gains in which it rose as high as 17,049.45.

The Topix index, however, dropped 0.47 percent to 1,660.16, as low as it has gone since January, and the Mother’s market of small and mid-caps fell 2.05 percent to 801.

Shares connected to energy fell as crude oil prices dropped.

Trader Mitsubishi (TYO: 8058; OTC: MSBHY) was 4.2 percent lower to ¥3,230, while Mitsui (TYO: 8031) fell 5.2 percent to ¥2,485.

Oil exporter Inpex (TYO: 1605) was down 8 percent to ¥1.04 million.

Financial services were mixed.

Broker Nomura (TYO: 8604; NYSE: NMR; SGX: N33) added 0.5 percent to ¥2,145, but Mizuho Financial (TYO: 8411; NYSE: MFG), Japan’s second biggest bank by assets, fell 2.1 percent to ¥687,000 and Sumitomo Mitusi Financial Group (TYO: 8316) dropped 0.5 percent to ¥970,000.

Mizuho has dropped 18 percent since July 31.

Shinsei Bank (TYO: 8303) was 3.4 percent higher to ¥432 as it reported that it had only lost $30 million on subprime loans, but it also said that it has over six times that amount of US mortgage-backed securities that could be affected.

In the automobile manufacturing sector, Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1 percent higher to ¥7,250 on a report that it has told its parts suppliers that it will increase global production next year,