March 15 (Bloomberg) -- Japanese stocks advanced for a third session as the biggest jump in commodity-transport fees this year boosted shipping companies, outweighing concern deflation will persist as the job market slumps. Nippon Yusen K.K., Japan’s top shipping line, climbed 2.6 percent. Sumco Corp., a maker of silicon wafers, jumped 4.7 percent after forecasting a narrower yearly loss. Kirin Holdings Co., the nation’s largest beverage maker, fell 1.9 percent after the Nikkei newspaper reported that about a third of the companies it surveyed will hire fewer university graduates next year. The Nikkei 225 Stock Average began falling after China’s market opened down on concern the government will cool economic growth to curb inflation. The Topix index rose 0.3 percent to close at 938.91 in Tokyo, with five shares gaining for every three that fell. The Nikkei 225 advanced 0.72 point, or less than 0.1 percent, to 10,751.98. The Bank of Japan is scheduled to hold a two-day policy meeting from tomorrow, while the U.S. Federal Reserve is expected to announce its interest-rate decision on March 17. “Any outcome is possible from the U.S. and Japan’s central banks’ meetings this week, so it’s hard to foresee how markets will react,” said Yoshinori Nagano, a senior strategist in Tokyo at Daiwa Asset Management Co., which oversees the equivalent of $95 billion. “Investors know China will continue to tighten monetary policies, but have no idea as to how or when.” The Topix has climbed 3.5 percent this year, the second- best performer among the world’s 10 biggest markets after the U.K., on speculation rising demand for Japanese-made goods in emerging markets will boost corporate earnings. Shares in the gauge trade at 32 times estimated earnings, compared with 15 times for the Standard & Poor’s 500 Index in the U.S. To contact the reporter for this story: Masaki Kondo in Tokyo at mkondo3@bloomberg.net.

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