Nikkei up 0.5 pct as property firms gain, but Toyota down

TOKYO, Aug 2 (Reuters) - The Nikkei average rose 0.48 percent on Thursday as property firms gained after solid corporate earnings results and a jump in land prices, while Kyocera Corp. (6971.T: Quote, Profile, Research) climbed after a brokerage upgrade.

But Toyota Motor Corp. (7203.T: Quote, Profile, Research) and other major automakers declined after U.S. auto sales dropped in July as weakness in the housing market sapped demand.

The Nikkei (.N225: Quote, Profile, Research) ended the morning session up 80.84 points at 16,951.82. It finished the previous session down 2.19 percent at 16,870.98, the lowest close since March 16.

The broader TOPIX index (.TOPX: Quote, Profile, Research) inched up 0.13 percent to 1,671 MESSAGE TERMINATED