The Tokyo equities markets were down substantially on Monday as crude oil prices rose to new highs yet again, peaking at over $70 per barrel.

The Nikkei 225 lost 1 percent to 12,309.83, while the Topix index declined by 1.1 percent to 1,258.64.

Stocks were down almost across the board as it was believed by investors that high oil prices would hit exports only marginally more than they would hit companies that depend on domestic demand.

Energy-dependent sectors did especially badly, with the sea transport sector down 2 percent as a whole, while the air transport sector was down an even larger 2.2 percent, due to a bomb scare on a Japan Airlines plane as well as to the surge in oil prices.

Information and communications stocks were down 1.4 percent, while the transport equipment sector fell 1.3 percent, and precision machinery as a whole lost 1.2 percent.

In the airlines sector, Japan Airlines lost 3.1 percent to ¥313 and All Nippon Airways fell by 1.4 percent to ¥362. Japan’s largest automobile manufacturer lost 2 percent to ¥4,450, and it’s biggest shipper, Nippon Yusen, declined by 1.7 percent to ¥686.

Japan’s largest brokerage house, Nomura, lost 1.6 percent to ¥1,488 as the securities sector as a whole fell by 1.5 percent.

In Tokyo on Friday, equities markets were down on profit taking even while they remained close to four-year highs and with no real evidence that they had been affected much by global economic worries. The Nikkei 225 lost 0.1 percent on the day to 12,291.73 and the Topix index was down by 0.2 percent to 1,250.50.

The automobile manufacturing sector fell by 0.3 percent as a whole, with Toyota down 0.7 percent to ¥4,360.

The steel sector, up most of the week on strong worldwide demand, was down by 0.9 percent. Nippon Steel lost 1.3 percent to ¥305.

Retailers were down as well, by 0.6 percent as supermarket chain Ito-Yokado lost 1.3 percent, to ¥3,930.

Machinery sectors were down, as well, with the precision machinery sector down by 1.4 percent and the general machinery sector falling even father, by 0.6 percent.

There were gainers on the day, as two vehicle-related companies anticipated technological advances. Mitsubishi Motors gained 3.5 percent to ¥147 on reports that it will launch its first electric vehicles in 2008 rather than in 2010 even though the company denied those stories.

Fuji Heavy Industries, which makes Subaru automobiles, announced that it would debut a vehicle using a lithium battery in the 2007-2008 model year. The announcement sent shares in the company up 3.7 percent to ¥500.

The Japanese equities markets were up on Wednesday on heavy foreign buying as the Asian nation’s political turmoil began to ease.

The Nikkei 225 gained 1.7 percent to 12,098.08, its highest close since April 2004, while the Topix index closed 1.8 percent higher at 1,227,85, its highest close in four years.

Foreign buyers seemed to be accepting analysts’ opinions that Japan’s political troubles will not have any significant negative impact on the economy and could in fact be a positive factor in long-term economic growth.

There was also good news on several fronts. Machinery orders were strong, corporate goods price data pointed to an end of deflation, and the Cabinet Office monthly report contained a more positive assessment of the economy.

Foreign investors were especially interested in the machinery, steel, and textile sectors. Nippon Steel gained 1.4 percent to ¥292, and textile manufacturer Unitika was up 1.3 percent to ¥531. Quarterly reports also led to increases in share values. Mitsubishi Materials was up 6 percent on the day to ¥316 on the strength of its quarterly profits, which were reported on Monday.

Japan’s second biggest property developer, Mitsubishi Estate, gained 3.5 percent to ¥1,304 on a positive quarterly report. In the chemicals sector, Showa Denko gained 6 percent to ¥299 on a tripling of profits in the first half.

Retailers were up on the day as well, on reports that the political situation could delay implementation of a hike in the consumption tax. Department store chain Mitsukoshi added 2.7 percent to ¥531.