Tokyo’s equities markets declined Monday as Monday’s earthquake affected insurance and utilities shares.

The Nikkei 225 dropped 0.1 percent to 18,217.27, while the Topix index was 0.3 percent lower to 1,778.11.

Non-life insurers took a hit in expectation of large claims for property damage in the earthquake areas.

Millea Holdings (TYO: 8766; NAS: MLEA) fell 1.7 percent to ¥5,110, while Sompo Japan Insurance (TYO: 8755) was 2.3 percent lower to ¥1,474.

Also seeing declines after the earthquake was Tokyo Electric Power (TYO: 9501), which dropped 1.1 percent to ¥3,570 on reports that the quake had damaged one of its nuclear plants.

Carmakers were lower as well on a stronger yen.

Toyota Motor (TYO: 7203.T; NYSE: TM; LSE: TYT) was 1.6 percent lower to ¥7,560.

Shipping companies were higher on the session on positive broker comment, with Mitsui OSK Lines (TYO: 9104) was 2.6 percent higher to ¥1,828.

Two trading companies saw record highs in their share prices during the session.

Mitsui & Co (TYO: 8031; NAS: MITSY) gained 3 percent to close at ¥2,880, while Marubeni was 3.3 percent higher to ¥1,208.

The Tokyo equities markets were lower on Thursday after the Bank of Japan chose to maintain interest rates at their current level. The Nikkei 225 dropped. 0.5 percent to 16,163.87, while the Topix index was 0.6 percent lower to 1,582.04. Declines came in both domestic and export-focused sectors.

Real estate was one exception to the declines on the day, as the sector as a whole gained 0.3 percent on the expectation that land prices will soon emerge from deflation nationwide. In the oil sector, Inpex added 1.9 percent to ¥968,000 on an upgrade of its full year expectations for recurring profits.

The second-largest advertising company in Japan, Hakuhodo, added 4.9 percent to ¥7,010 on an upgrade from “neutral” to “outperform” from Credit Suisse, citing the company’s apparent undervaluation.

Nissin Food gained 5.5 percent to ¥3,630 on an increased recommendation from Merrill Lynch, from “sell” to “buy”, after the instant noodle maker bid for Myojo Foods. Myojo gained 2.6 percent to ¥883.

Among losers, the insurance sector dropped 1.9 percent as a whole, with general insurer Sompo Japan 1.6 percent lower to ¥1,411. Also declining was the transport equipment sector, which fell 1 percent. Toyota dropped 0.8 percent to ¥7,230.

The Tokyo equities markets were lower on Wednesday, with both export-focused and domestic stocks seeing declines. The Nikkei 225 dropped 1 percent to 15,718.67, while the Topix index was 1.4 percent lower to 1,570.28. The Mothers index of small and mid-cap stocks declined even further, by 3.2 percent to 1,178.78.

Internet-related stocks were sent lower by a profit warning issued by Yahoo in the United States. Both Yahoo Japan and Softbank dropped 3 percent, to ¥40,200 and ¥2,075.

Among domestic stocks, real estate, banks, insurance, and consumer finance were all lower. Real estate was 2.1 percent lower as a sector on fears that shares are overvalued. Mitsui Fudosan was 2.3 percent lower to ¥2,610, while Mitsubishi Estate fell 2.9 percent to ¥2,500.

The banking sector was down even more sharply, losing 2.4 percent overall. Mitsubishi UFJ dropped 2 percent to ¥1,450,000. But banks were outdone by the insurance sector, which declined by 2.7 percent as a whole. Life insurer T&D matched the sector with fall of 2.7 percent to ¥8,360, while general insurer Sompo Japan was 4.3 percent lower to ¥1,465.

Consumer finance companies were lower on continuing worries about how the new cap on interest rates they can charge customers will affect business. Takefuji dropped 2.3 percent to ¥5,830, while Aiful declined 4 percent to ¥4,580.

The Tokyo equities markets were higher on Tuesday, with the real estate and retail sectors up and the insurance sector down slightly. The Nikkei 225 ended the session 0.2 percent higher to 16,385.96, while the Topix index added 0.1 percent to 1,651.35.

Export-focuses sectors were lower as the yen strengthened. In the automobile manufacturing sector, Toyota dropped 0.5 percent to ¥6,340 and Nissan declined by 0.8 percent to ¥1,337.

Consumer electronics was down as well, with Matsushita Electric Industrial falling 0.6 percent to ¥2,510. Sharp dropped 1.9 percent to ¥2,080 after Daiwa cut its recommendation from “outperform” to “neutral” and revised its estimates of Sharp’s 2007-2008 operating profit in a downward direction.

Among domestic stocks, the insurance sector fell 0.8 percent as a whole, with Millea 0.9 percent lower to ¥2,170,000 and Sompo Japan down by 1.5 percent to ¥1,532.

Retailers were up 0.8 percent as a sector. Aeon gained 1 percent to ¥3,040, while department store chain Isetan was 1.8 percent higher to ¥2,035.

The real estate sector was higher on rising property prices, adding 2.1 percent as a whole. Mitsui Fudosan was 1.5 percent higher to ¥2,730. Sumitomo Realty & Development was 2 percent higher to ¥3,600, while Mitsubishi Estate gained 2.9 percent to ¥2,675.