Asian stocks climb as Berlusconi officially resigns

On Monday Asian markets advanced as Italy approved the austerity measures and appointed a new government leader Mario Monti lessening investor fears of enduring Eurozone debt crisis.  Japan's Nikkei Stock Average added 1.1%, Hong Kong's Hang Seng Index rose 2.4% while Shanghai Composite Index climbed 1.6%. South Korea's Kospi gained 2.3% and Australia's S&P/ASX 200 index increased at a slowest pace reaching 0.2%.