Posted By: Tom Hustler

By Louise Lucas in TokyoWed Nov 8, 11:35 PM ET

Japanese markets were barely changed on Thursday morning following another session of mixed trading.
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The Nikkei 225 ended the morning session up slightly higher, up 0.05 per cent at 16,224.09 while the broader Topix dipped 0.12 per cent lower at 1,595.66.

Hawkish comments from the Bank of Japan drove the property sector down 2.65 per cent. Real estate stocks were marked down after Bank of Japan governor Toshihiko Fukui said on Tuesday that the central bank would raise rates pre-emptively to avoid swings in the economy.

Property stocks bearing the brunt included Mitsui Fudosan, which slumped 3.89 per cent to Y2,720. Sumitomo Realty & Development fell 2.8 per cent to Y3,540, following further falls on Wednesday.

The banking sector fell 0.7 per cent after data revealed a deceleration in lending in October, for the third month in a row. At the city banks, lending actually fell year-on-year. Shares in Mitsubishi UFJ, the world's biggest bank by assets, slumped 1.39 per cent to Y1.42m.

Also taking a toll on the market were expectations of poor industrial output numbers, due on Friday. Fanuc, an industrial robot maker, lost 0.7 per cent to close the session at Y10,510, reflecting disappointing expectations.

Elsewhere, tech stocks were boosted by better-than-expected corporate results in the US. Domestically, Softbank shares rose 1.1 per cent to Y2,365 after the telecoms and internet conglomerate reported an eightfold rise in quarterly profits, the first full quarter of earnings from Vodafone Japan.

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