TOKYO: Japan's Nikkei index inched higher in see-saw trade on Tuesday, with investors being cautious about the global economic outlook, while oil explorers jumped to be the top gainer among major sub-indexes.
The Nikkei share average rose 0.13% to 27,404.14 by the midday break, struggling to maintain the upbeat momentum seen in the previous session.
The Nikkei had touched its highest in more than a month on Monday after Shanghai announced stimulus measures and a decision to ease a city-wide lockdown.
Nikkei climbs to over 1-month high as China eases COVID curbs
The broader Topix inched up 0.06% to 1,923.55 on Tuesday. Shuji Hosoi, a senior strategist at Daiwa Securities, said ongoing lack of supplies and rising commodity prices was making investors cautious.
"If China's economy will reopen, demand will increase, which means rise in energy prices will continue (to rise)."
Oil explorers jumped 5.22% and were the top gainers among the Tokyo Stock Exchange's 33 industry sub-indexes. Inpex advanced 5.57% and was the top gainer on the Nikkei, followed by automaker Subaru Corp, which climbed 4.08%.
Heavyweights Tokyo Electron lost 0.62% and was the biggest drag on the Nikkei. Robot maker Fanuc fell 0.7%.
Property sector was the worst performer among the Tokyo Stock Exchange's 33 industry sub-indexes.
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