Japan's Nikkei ends higher for third day as energy shares gain

TOKYO, April 4 (Reuters) - Japan's Nikkei share average rose for a third straight session on Tuesday, led by energy related companies that tracked overnight strength of their U.S. peers, but the gains were small as investors struggled to find other market moving cues. The Nikkei index ended 0.35% higher at 28,287.42, while the broader Topix gained 0.25% to 2,022.76. "The market had no clear cues, so investors were selling outperforming stocks and buying underperforming ones," said Shoichi Arisawa, general manager of the investment research department at IwaiCosmo Securities.

"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."

Overnight, the S&P 500 ended higher, lifted by energy stocks following surprise cuts to the OPEC+ group's oil output. The S&P 500 energy sector index surged 4.9%

In Japan, the energy explorers gained 1.36%, after surging 5% in the previous session. The utility sector rose 1.33%, with Tokyo Electric Power Company Holdings rising 1.45%%. Kansai Electric Power climbed 2.24%.

Shipping firms jumped 3.12% to become the top performer among the Tokyo Stock Exchange's 33 industry sub-indexes. Kawasaki Kisen rose 3.40% and Mitsui O.S.K. Lines gained 2.29%.

Cosmetic maker Shiseido advanced 3.46% to become the top performer on the Nikkei. Shimamura tanked 5.5% after the clothing retailer's forecast for annual operating profit was below consensus.

"When there are little market moving cues, investors become sensitive to the corporate outlook," Arisawa said. Kobe Steel fell 2.82% and was the worst performer on the Nikkei. (Reporting by Junko Fujita; Editing by Muralikumar Anantharaman and Uttaresh Venkateshwaran)

Reuters

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

off-the-wire

Japan's Nikkei ends higher for third day as energy shares gain

By Reuters

Reuters

Reuters

Gold is never going back to $2,000: 'That's history,' prices to 3x from here – Peter Schiff

Solid price gains for gold, silver after busy news weekend

‘Biggest economic shift since Nixon’: Major U.S. monetary policy changes coming in 12-36 months – Jack Mallers

India joins South Africa in denying BRICS currency plans after Trump’s 100% tariff threat

Silver prices breach $32/oz as bullish technicals and fundamentals suggest potential breakout

off-the-wire

Japan&apos;s Nikkei ends higher for third day as energy shares gain

By Reuters

Reuters

Reuters

Japan's Nikkei ends higher for third day as energy shares gain