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"Concern about a slowdown in the global economy is receding"
- Hiroichi Nishi, an equities manager at SMBC Nikko Securities Inc.
Japanese stocks gained on Wednesday, led by oil companies and brokerages. The Nikkei 225 advanced 0.99%, or 84.18 points, to 8,550.58, while the broader Topix edged higher 0.47%, or 3.45, to 734.98.
"Concern about a slowdown in the global economy is receding," said Hiroichi Nishi, an equities manager in Tokyo at SMBC Nikko Securities Inc.
"The market has already priced-in a Greek default," said Hisakazu Amano, who heads the investment department at Tokyo-based T&D Asset Management Co. "The concern is that there will be a domino effect across the whole region."