Japan Times reported today that the Shinko Research Institute has projected that group pre-tax profits of major companies is estimated to be the fifth record in a row to 18.1 trillion yen in the fiscal first half.

Financial stocks fell on bearish sentiment after Wells Fargo, one of the largest banks in the U.S. said that the current housing slump is the worst since the Great Depression. Mitsubishi UFJ Financial Group fell 2.91%, Mizuho Financial Group declined 2.56% and Sumitomo Mitsui Financial Group plunged 1.87%.

Real estate stocks retreated on the news that condominium sales in the greater Tokyo area dropped 9.1% in October from a year ago. Mitsubishi Estate Company plummeted 5.02% and Mitsui Fudosan fell 4.38%.

The Tokyo Stock Exchange plans to list 50 exchange traded funds. The ETFs are basket of stocks helping investors to take exposure to a industrial sector, investment strategy, or country focused investment index. TSE plans to increase the total number of index to 100 in the next two years. Japan’s Financial Services Agency notes that Deutsche Borse AG, London Stock Exchange, and NYSE Group Inc have more than 100 ETFs.

Of the Nikkei 225 Index shares, Asahi Breweries led gainers, followed by increases of 5.06% in Shinsei Bank Limited, 3.61% in Bank of Yokohama, 3.37% in Japan Tobacco and 2.70% in Meiji Seika.

Kumagai Gumi led decliners in the index with a fall of 9.40%, followed by losses in Dowa Holdings of 7.70%, Toho Zinc Company of 7.63%, Nippon Soda Company of 7.28% and Nippon Light Metal of 6.48%.

The yen traded at elevated level to 110.24 from 110.26 against the dollar and 161.22 from 116.25 against the euro. Sony Corp dipped 1.11%, Toyota Motor Company slumped 1.77%, and Canon slipped 1.26%.