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- Kenichi Hirano, general manager and strategist at Tachibana Securities Co.
Japanese stocks edged higher on Monday after G20 finance chiefs approved some of the measures to contain Europe’s debt crisis. The Nikkei 225 rose 1.50%, or 131.64 points, to 8,879.60, while the broader Topix surged 1.75%, or 13.07 points, to 761.88.
“Investors are recovering their risk appetite,” said Kenichi Hirano, general manager and strategist at Tachibana Securities Co. in Tokyo. “We could see that G-20 countries would cooperate with European countries in tackling the debt crisis, which helped concern over the European crisis recede.”
Japan’s government downgraded economic outlook of the country, saying global economic woes are slowing recovery of the nation’s economy. "The Japanese economy is still picking up although the pace of recovery decelerates, while difficulties continue to prevail due to the earthquake," the government noted in its report.