TOKYO, April 4 (Xinhua) -- Japan's benchmark Nikkei stock index extended gains for a third-straight session Tuesday, as energy-linked issues followed their U.S. peers higher, although gains were capped by a lack of fresh cues.
The 225-issue Nikkei Stock Average added 99.27 points, or 0.35 percent, from Monday to close the day at 28,287.42.
The broader Topix index, meanwhile, gained 5.08 points, or 0.25 percent, to finish at 2,022.76.
Oil issues advanced owing to energy stocks in the U.S. performing well overnight, local brokers said, adding that U.S. crude oil futures closed Monday at a one-month high, added to upbeat sentiment here.
Some investors sounded a note of caution, however, after the Organization of the Petroleum Exporting Countries and its allies said they would lower output, suggesting the move could lead to manufacturers hiking their procurement costs.
"Although higher oil prices could be beneficial for oil-related firms, they could be a negative factor for manufacturing and non-manufacturing companies by increasing their procurement costs," Shingo Ide, chief equity strategist at the NLI Research Institute, was quoted as saying.
As for other factors moving the market, dealers here said that fresh cues remained lacking.
"The market had no clear cues, so investors were selling outperforming stocks and buying under-performing ones," Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities, was quoted as saying.
"Wall Street was strong overnight, lifted by energy stocks, but in Japan, we do not have the real equivalent of those U.S. stocks that would benefit from oil price gains," Arisawa said.
Some investors did, however, refrain from making bold moves ahead of the release later this week of U.S. employment and other data related to the economy that could inform the future course of the U.S. Federal Reserve's interest rate hikes.
As for individual energy-linked issues advancing, oil exploration giant Inpex added 1.3 percent, while engineering firm JGC Holdings ended 0.6 percent higher.
The utility sector was a notable gainer, rising 1.3 percent, based on six Japanese power companies saying that they had lowered the amount of scheduled price increases for households' electricity bills.
Individual utilities closed higher as a result, including Kansai Electric Power adding 2.2 percent, while Tokyo Electric Power Company Holdings ended 1.5 percent higher.
Shipping firms outperformed, with Mitsui O.S.K. Lines rising 2.3 percent, while Kawasaki Kisen ended 3.4 percent higher.
The Nikkei's top performer was cosmetic maker Shiseido, who jumped 3.4 percent, while Nintendo was a notable winner, leaping 4.6 percent, on hopes that its new Super Mario Bros.-related animated film will find favor upon release in the United States.
By the close of play, marine transportation, mining and electric power and gas-linked issues comprised those that gained the most.
The turnover on the second trading day of the week came to 2,886.65 billion yen (21.71 billion U.S. dollars). ■
