Nikkei gains on European deal, stops short of 75-day average

TOKYO: The Nikkei average gained on Monday after European leaders agreed to draft a new treaty for deeper economic integration but market players said the short-covering bounce may not last as the deal was no panacea for the region's long-term debt worries.

The benchmark Nikkei gained 1.4 percent to 8,653.82, just below its 75-day average near 8,660, seen as a key resistance level.

The broader Topix index added 1.2 percent to 746.69.