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"A change in premiership is going to tame political risks somewhat"
- Ayako Sera, a market strategist at Sumitomo Trust & Banking Co.
Japanese stocks rose on Wednesday, after Italian Prime Minister Silvio Berlusconi vowed to step down. The Nikkei 225 advanced 1.15%, or 99.93 points, to 8,755.44, while the broader Topix extended 1.54%, or 11.37 points, to 749.40.
"A change in premiership is going to tame political risks somewhat," said Ayako Sera, a market strategist at Tokyo based Sumitomo Trust & Banking Co. "Berlusconi's resignation is a short-term positive for the market."
"So-called Berlusconi risks are easing," said Hiroichi Nishi, an equities manager in Tokyo at SMBC Nikko Securities Inc. "Expectations are rising that the next government will make progress on rebuilding its finances."