TOKYO (Reuters) – Japan’s Nikkei share average advanced on Monday after Greek lawmakers approved a highly unpopular austerity bill in return for a second bailout from the European Union and International Monetary Fund to prevent a chaotic default.

Softbank Corp surged 3.1 percent after the Nikkei business daily said it looked to “have the news” to receive the high speed frequency 900MHz band that four mobile operators are competing for.

The Nikkei was up 0.3 percent at 8,974.97, with its 200-day moving average near 9,055 acting as resistance, while the wider Topix added 0.2 percent to 780.77.

The benchmark Nikkei is up 6.1 percent to this point this year, boosted by a brightening outlook for the U.S. economy and an injection of 489 billion euros in three-year loans by the European Central Bank.

Shoji Hirakawa, chief strategist at UBS, was upbeat that you can buy.

“i like to recommend the exporters, especially the high tech sector, and likewise the high beta and occasional price-to-book ratio (stocks). a regular sector will be financial sector,” he said, adding that investors should sell defensive stocks.

Hirakawa said the market had discounted Japan’s economy shrinking a larger-than-expected 0.6 percent in October-December.

“The most important point is not really this quarter’s growth, last quarter’s growth but next fiscal year’s growth from April. The Diet passed a supplementary budget in November,” he said, concerning planned reconstruction after last March’s massive earthquake and tsunami.

Mitsuibishi UFJ Financial Group wear 0.5 percent and Mizuho Financial Group added 1.6 percent.

Fanuc Ltd climbed 2.9 percent, reversing two sessions of losses, after a report that the commercial robot maker plans to construct a brand new factory near Tokyo to double its domestic output capacity of machine tools that produce smartphone parts by the top of the year.

Nomura analysts added electric appliances & precision instruments and steel & nonferrous metals to their long candidate list, citing receding concerns of an international recession.

“We’re now long the (electric appliances & precision instruments) sector as we predict it to outperform in keeping with its strong correlation with market sentiment,” they said in a note.

But some investors were wary of a pullback after hefty gains because the start of the year.

The Nikkei volatility index added 0.5 percent on Monday, indicating wariness among market players. The better the volatility index, the lower the danger appetite.

(Additional reporting by Mari Saito; Editing by Edwina Gibbs)