Nikkei closed on a higher note when Spain outlined measures to cut its deficit

[gnutrade.satya]

In Asia, the Nikkei closed on a higher note when Spain outlined measures to cut its deficit, easing fears that the Greek debt crisis could spread in Europe and boosting exporters. Toshiyuki Kanayama, a market analyst at Monex Inc said: "The euro zone problems had really weighed on the market, and reassurance after the Spanish announcement has allowed investors to turn their eyes to things like earnings and economic indicators for the first time in days. That said, we can't know yet if these measures will work, and some continuing concern is still shifting funds into gold, sending it to quite high levels."
The benchmark Nikkei closed down 2.2 percent at 10,620.55.