Tokyo’s markets were lower on Thursday.

The Nikkei 225 was 0.45 percent lower to 16,284.17 and the Topix index was down 1.01 percent to 1,548.07, while the Mothers market of small and mid-caps dropped 3.77 percent to 888.75.

Banks were still feeling the fallout of an announced $8.4 billion in writedowns by Merrill Lynch (NYSE: MER; TYO: 8675), which said it lost $2.24 billion in the third quarter.

Sumitomo Mitsui (TYO: 8316) was down 1.3 percent to ¥829,000, while Mitsubishi UFJ (TYO: 8306; NYSE: MTU) was 1.9 percent lower to ¥1,018 and Mizuho dropped 3.9 percent to ¥588,000 after a report that it will take a ¥50 billion ($438 million) first-half loss due to exposure to US subprime loans, although it will still make its income forecast due to gains in other units.

In the semiconductors sector, Toshiba (TYO: 6502; LSE: TOS) added 1.7 percent to ¥967 on the strength of better sales of flash memory chips.

On the other hand, Elpida Memory (TYO: 6665) dropped 4.7 percent to ¥3,860 after it said net income was down 75 percent in its fiscal second quarter on lower prices.

UBS downgraded Elpida from “buy” to “neutral”.

In the internet sector, Yahoo Japan (TYO: 4689) fell 9 percent to ¥50,800 after reporting a drop in profits for the quarter.

Tokyo’s markets were mixed on the session Monday.

The Nikkei 225 added 0.16 percent to 17,358.15, but the Topix index dropped 0.12 percent to 1,657.44 and the Mothers market was down 1.57 percent to 867.62.

Carmakers were lower after HSBC Holdings said that Toyota (TYO: 7203.T; NYSE: TM; LSE: TYT) will likely see profits weaken in the second half of its current fiscal year as the US economy slows down.

Toyota was 1.7 percent lower to ¥6,450, while Honda (TYO: 7267; NYSE: HMC) dropped 2 percent to ¥3,930.

Miners were higher.

Nippon Mining (TYO: 5016), which has interests in oil, coal and non-ferrous metals, added 1.6 percent to ¥1,196, while Sumitomo Metal Mining (TYO: 5713) gained 2.3 percent to ¥2,915 and Mitsui Mining (TYO: 5706) was up 4.2 percent to ¥2,915.

In the semiconductors sector, chipmakers were lower but makers of equipment related to making and testing chips saw gains.

Rohm (TYO: 6963) was down 0.7 percent to ¥10,120 and Toshiba (TYO: 6502; LSE: TOS) dropped 1.6 percent to ¥1,036 after Nomura dropped its recommendation on the sector from “bullish” to “neutral”.

However Tokyo Electron (TYO: 8035) was up 2.9 percent to ¥7,510 while Advantest (TYO: 6857; NYSE: ATE) added 6.4 percent to ¥3,850.

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 saw gains Wednesday based on new data showing that Japan’s trade surplus quadrupled in August as automobile exports were up by 22 percent.

Expectations of another interest rate cut in the United States after new reports from the housing market there also helped.

The Nikkei 225 was 0.21 percent higher to 16,435.74 and the Topix index added 0.59 percent to 1,576.02, while the Mothers market jumped 8.13 percent to 682.78.

Banks were higher on a report that investments in mutual funds at Japan’s three largest banks were up by 3 percent in August.

Mizuho (TYO: 8411; NYSE: MFG) gained 1.1 percent to ¥628,000 while Sumitomo Mitsui (TYO: 8316) was 2.6 percent higher to ¥833,000.

Mitsubishi UFJ (TYO: 8306; NYSE: MTU) is sitting out this week due to a stock split.

Truck and bus maker Hino Motors (TYO: 7205) added 4 percent to ¥909 after a higher profits forecast based on higher demand from the Middle East and South America.

In the retail sector, electronics retailer Yamada Denki (TYO: 9831) was up 3.5 percent to ¥10,610 after it raised its stake in Best Denki (TYO: 8175) to 7.71 percent and said that it wants to increase its stake in the competing retailer to 20 percent.

Best Denki gained 4.3 percent to ¥854.

Yamada Denki’s purchase and declaration came after Bic Camera (TYO: 3048) said that it would spend ¥5.7 billion to raise its stake in Best Denki to 9.33 percent.

Bic Camera was 0.5 percent lower on the session to ¥59,700.

The oil sector was lower on overnight declines in oil prices.

Japan Petroleum Exploration (TYO: 1662) was 0.7 percent lower to ¥8,270, while Inpex (TYO: 1605) fell 5.8 percent to ¥1.13 million.

Nuclear reactor manufacturer Toshiba (TYO: 6502; LSE: TOS), however, added 4.2 percent to ¥1,027 as investors speculated that its fiscal second quarter report will be better than anticipated.

Tokyo’s markets were lower Friday.

The Nikkei 225 fell 0.41 percent to 16,248.97, while the Topix index was down 0.37 percent to 1,585.85 and the Mothers market declined 1.79 percent to 726.77.

The electronics sector was mixed.

Matsushita Electric Industrial (TYO: 6572; NYSE: MC) fell 0.5 percent to ¥2,015, although Toshiba (TYO: 6502; LSE: TOS) added 1.4 percent to ¥1,068.

Optical glass manufacturer Hoya (TYO: 7741; OTC: HOCP) dropped 3.4 percent to ¥3,930.

Honda Motor (TYO: 7267; NYSE: HMC) was 0.5 percent lower to ¥3,700.

Elsewhere in the auto sector, however, Hino Motors (TYO: 7205) and Isuzu Motors (TYO: 7202) were both higher on rumors that were denied by both parties that they would join to develop lower-emission diesel engines.

Isuzu added 2 percent to ¥565, while Hino was 3.3 percent higher to ¥782.

Shippers were higher on the session.

Mitsui OSK Lines (TYO: 9104) was up 1.1 percent to ¥1,619, while Kawasaki Kisen Kaisha (TYO: 9107) gained 1.2 percent to ¥1,619 and Nippon Yusen (TYO: 9101) advanced 1.8 percent to ¥1,116.

Camera makers were also higher, with Nikon (TYO: 7731) adding 2.7 percent to ¥3,370 and Canon (TYO: 7751; NYSE: CAJ) gaining 3.7 percent to ¥6,490.

In Tokyo on Wednesday the Nikkei 225 fell 1.1 percent to 18,049.51, while the Topix index declined 1.2 percent to 1,767.72.

Exporters in Tokyo were hurt by a stronger yen as well as the declines in New York.

In the automobile manufacturing sector Honda Motor (TYO: 7267; NYSE: HMC) fell 1.3 percent to ¥4,470, while Toyota Motor (TYO: 7203; NYSE: TM; LSE: TYT) dropped 1.7 percent to ¥7,660.

In the electronics sector Kyocera (TYO: 6971) was down 1.2 percent to ¥12,880, while Sony (TYO: 6758; NYSE: SNE) was 2 percent lower to ¥6,330 and Canon (TYO: 7751; NYSE: CAJ) fell 2.3 percent to ¥6,960.

Not all electronics groups were lower however. Toshiba (TYO: 6502; LSE: TOS) added 4.5 percent to ¥1,125 on an upgrade from “underperform” to “buy” from broker CLSA.

Condiment maker Bull-Dog Sauce (TYO: 2804) went untraded after only one transaction after US hedge fund Steel Partners appealed a ruling that favored Bull-Dog and called the hedge fund an “abusive acquirer”.

Bull-Dog Sauce was 12.1 percent lower at ¥725.

In the retail sector Aeon (TYO: 8267) dropped 3.1 percent to ¥2,195 on its report that operating profit in the most recent quarter was down 16 percent because of poor sales at Talbots (NYSE: TLB), the US clothing retailer in which it owns a majority of shares.

In Tokyo on Monday the Nikkei 225 closed at its highest level in 7 years, adding 0.7 percent to 18,261.98 on a substantial jump in machinery orders.

The Topix index was also higher, adding 0.7 percent as well to close at 1,792.23.

Besides the machinery sector in Tokyo, which added 2.1 percent as a whole, the pharmaceuticals sector saw gains as generic drug makers were higher on the news that major firms are encouraging their employees to use the less expensive alternatives to name-brand drugs.

Nippon Chemiphar (TYO: 4539) was 2.5 percent higher to ¥532, while Towa Pharmaceuticals (TYO: 4553) gained 2.6 percent to ¥5,170 and Sawai Pharmaceuticals (TYO: 4555) was up 3.3 percent to ¥4,430.

In the electronics sector, Sony (TYO: 6758; NYSE: SNE) dropped 0.2 percent to ¥6,530 after the company said it will cut the price of its PlayStation 3 console by $100 in the United States.

On the other hand, Toshiba (TYO; 6502; LSE: TOS) added 2.9 percent to ¥1,083 after it said it is talking with Kazakh energy company Kazatomprom about selling part of its stake in a nuclear power plant there.

The real estate sector saw declines after the news on machinery orders as investors worried that the new data could send interest rates higher. The sector as a whole was 0.8 percent lower.

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.

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.

The Tokyo equities markets were lower on Friday as trade volumes were low ahead of another holiday weekend. The Nikkei 225 dropped 1.51 percent to 17,091.51, while the Topix index was 1.4 percent lower to 1,675.33.

The automobile manufacturing sector saw losses as investors took profits after recent gains. Toyota was down 2.4 percent to ¥7,900, while Honda fell almost 3 percent to ¥4,600.

Other export-dependent sectors also saw declines. Canon was 2 percent lower to ¥6,530. Meanwhile, industrial robot manufacturer Fanuc fell 2.8 percent to ¥11,430. Bucking the trend was Toshiba, which was 1.64 percent higher to ¥808 on reports that it will develop a new boiling water reactor for nuclear power plants, to be marketed both domestically and in foreign markets by 2015.

Declines in crude oil prices hurt oil companies. Inpex dropped 2.5 percent to ¥919,000, while Japan Petroleum fell almost 5 percent to ¥6,610.

The steel sector was down as well, as were companies dealing in non-ferrous metals. Among steel makers, JFE was 5.7 percent lower to ¥5,750 and Nippon Steel was down 6 percent to ¥622. In the non-ferrous metals sector, Mitsubishi Materials fell 1.4 percent to ¥430, while Sumitomo Metal Mining was 2.5 percent lower to ¥1,456 and Toho Zinc dropped 7.4 percent to ¥1,021.

Gainers on the day included department store Isetan, which added 2 percent to ¥2,230 on record sales. Oji Paper was helped by the decline in crude oil prices, gaining almost 4 percent to ¥675.