1st LD Writethru: Tokyo stocks end flat in tug-of-war between higher oil prices, falling U.S. shares

TOKYO, Dec. 27 (Xinhua) -- Tokyo stocks ended practically flat Wednesday as a rise in crude oil prices lifting energy-related issues was offset by investors selling after a weak lead from Wall Street overnight.

The 225-issue Nikkei Stock Average gained 18.52 points, or 0.08 percent, from Tuesday to close the day at 22,911.21.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, added 2.78 points, or 0.15 percent, to finish the day at 1,829.79.

Brokers here said crude oil futures rising in New York overnight supported energy and resource-linked issues, which helped buoy the market somewhat.

But as investors opted not to chase the market higher, despite those who had already received dividends realigning themselves adding some support, Wall Street's losses overnight pared some gains.

Market strategists also noted that the U.S. dollar's marginal retreat against the yen negatively impacted some export-oriented issues.

Exporters rely on a weaker yen to boost competitiveness in overseas markets and see profits augmented when repatriated when the yen is weaker as compared to its major competitors.

Oil and coal product, and mining-linked issues comprised those that gained the most. Rubber product and food issues, meanwhile, led the day's notable decliners.

Rising issues outpaced falling ones by 1,472 to 494, on the First Section, with 82 ending the day unchanged, and 981.24 million shares changed hands on the main section, dropping from Tuesday's volume of 1,094.89 million shares.

The turnover on Wednesday totaled 1,708.9 billion yen (15.10 billion U.S. dollars). Enditem