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"Italy took a positive step and the country's credibility is recovering"
- Naoki Fujiwara, a fund manager at Shinkin Asset Management Co.
Japanese stocks closed higher on Monday after Italy voted for 30 billion-euro austerity plan on Sunday. The Nikkei 225 rose 0.60%, or 52.23 points, to 8,695.98, while the broader Topix gained 0.60%, or 4.47, to 748.61.
"Italy took a positive step and the country's credibility is recovering," said Naoki Fujiwara, a fund manager at Shinkin Asset Management Co. in Tokyo. "That made the investors to think the region will likely move to the right direction."
Cabinet Office is to announce month on month change in core machinery orders on Thursday. Economists expect the reading to advance 0.8 percent in October, after 8.2 percent decline in September.