Asia stocks trade higher; Japan’s second-quarter GDP revised lower
Stocks in Asia-Pacific were higher on Tuesday morning, as Japan released revised gross domestic product figures for the second quarter.
In Japan, the Nikkei 225 advanced 0.37% in early trade while the Topix index gained 0.22%.
Japan’s revised GDP figures for the April-June quarter showed the country’s economy shrinking an annualized 28.1%, according to second preliminary estimates released by the Cabinet Office. It was worse than preliminary estimates released in mid-August, which had shown the country’s economy shrinking 27.8% on an annualized basis in April-June.
Tuesday’s revised GDP figure compared with a median forecast for a 28.6% contraction by economists in a Reuters poll.
Following the data release, the Japanese yen traded at 106.25 per dollar after seeing levels below 106.2 yesterday against the greenback.
Elsewhere, South Korea’s Kospi rose 0.59%. Shares in Australia also saw gains, with the S&P/ASX 200 trading 0.99% higher.
Overall, the MSCI Asia ex-Japan index traded 0.22% higher.
Reference: CNBC
Thai
Eng