The Tokyo equities markets saw very little movement on Tuesday. The Nikkei 225 was lower, but only by 0.1 percent to 17,408.57, while the Topix index held steady at 1,730.76.

Steelmakers were higher on the session, protecting the markets from losses in other sectors. Tokyo Steel Manufacturing added 3.2 percent to ¥1,755 an the announcement that it will increase the prices it charges for its products. Nippon Steel gained 4.3 percent to ¥695, its highest share price in 16 years, helped by an earlier hike it its target share price, from ¥600 to ¥760, by UBS. The broker said that the target was raised due to increased demand for high-grade steel.

The construction sector saw declines as a bids-rigging scandal continued to unfold with searches of the offices of several companies. Obayashi dropped 2.3 percent to ¥733, while Shimizu fell 3.2 percent to ¥612 and Kajima was 3.7 percent lower to ¥544.

Banks and the real estate sector both were lower as investors took profits. The banking sector dropped 0.4 percent, with Mitsubishi UFJ falling 1.3 percent to ¥1,530,000. Meanwhile, the real estate sector was 1.1 percent lower with Mitsubishi Estate down 0.9 percent to ¥3,360 and Mitsui Fudosan 1.3 percent lower to ¥3,080.

The news that the Japanese economy grew more than had been expected in the first quarter of the year sent Tokyo equities markets higher on Friday. The Nikkei 225 and the Topix index each added 0.4 percent on the day to close at 16,155.45 and 1,638.57 respectively.

The retail sector added 1.6 percent as a whole, with Seven and I gaining 1.2 percent to ¥4,120. Another sector strongly affectd by domestic issues, securities, also gained on the day. The sector as a whole added 2 percent, as Nomura was up by 1.3 percent to ¥2,335 and Daiwa Securities gained 3.3 percent to ¥1,423.

Shipping companies saw gains on upgrades from UBS. Mitsui OSK was up 3.3 percent to ¥806, Kawasaki Kisen gained 4.4 percent to ¥717, and Nippon Yusen added 4.7 percent to ¥730.

Among losers on the day was the construction sector, done in by disappointing earnings forecasts. Shimizu dropped 2.8 percent to ¥697, while Kajima was down 2.1 percent to ¥592 and Taisei declined by 1.3 percent to ¥460.

In the electronics sector, meanwhile, Sanyo Electric dropped 2.2 percent to ¥271 on extensive restructuring costs that led to a significant loss in the 2005-2006 fiscal year.