TOKYO, March 18 (Xinhua) -- Japan's key stock index extended its gains for the third consecutive day on Tuesday as strong buying of stock index futures by overseas investors, fueled by gains in the U.S. market, contributed to the rise.

The benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, closed at 37,845.42, up 448.90 points, or 1.2 percent from the previous day.

Investor confidence was also bolstered by news that U.S. investor Warren Buffett's company had increased its holdings in Japanese trading firms, leading to gains in stocks such as Itochu and Mitsubishi Corporation.

The buying momentum spread to other value stocks, including banks and automakers. A weaker yen, which fell to the 149 range against the U.S. dollar, supported gains in Toyota, Honda, and Subaru.

The broader Topix index rose for the fifth consecutive session, climbing 35.44 points, or 1.29 percent to 2,783.56, its highest level since Jan. 31.

On the Tokyo Stock Exchange Prime Market, advancing issues outnumbered decliners 1,287 to 297, while 53 stocks remained unchanged. Enditem

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