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"Germany and France are coming out strongly in support of maintaining the euro"
- Kiyoshi Ishigane, a senior strategist at Mitsubishi UFJ
Japanese stocks gained on Friday after the European Central Bank decreased interest rates and Greek officials disagreed over referendum. The Nikkei 225 advanced 1.86%, or 160.98 points, to 8,801.40, while the broader Topix rose 1.82%, or 13.44 points, to 752.02.
"Greece's backdown on a referendum fueled confidence in the market as the worst-case scenario, where that country exits the euro zone, can be avoided," said Kiyoshi Ishigane, a senior strategist at Mitsubishi UFJ Asset Management Co. in Tokyo. "Germany and France are coming out strongly in support of maintaining the euro, which is good for the market."
Japanese Cabinet Office is to announce month on month change in core machinery orders next Thursday. Economists expect the reading to decline 6.9 percent.