Investors Respond to Revised Impression of Japan’s Q1 GDP
SINGAPORE – Stocks in Asia-Pacific were mixed in Tuesday morning trading as investors reacted to the release of revised figures for Japan’s gross domestic product for the first quarter.
the Nikkei 225 in Japan gained 0.26% while the Topix index traded around 0.3% higher.
Revised government data released on Tuesday showed Japan’s economy contracted 3.9% in the first quarter, an improvement from the initial estimate of a 5.1% contraction. Gross domestic product revised from economists’ median forecast in a Reuters poll for a 4.8% contraction.
The largest MSCI index for Asia-Pacific stocks traded up 0.1%.
Overnight on Wall Street, the S&P 500 struggled to hit an all-time high, slipping about 0.1% on the day to 4,226.52. The Dow Jones Industrial Average lost 126.15 points to 34,360.24 while the Nasdaq Composite gained 0.49% to 13,881.72.
the US dollar index, which tracks the greenback against a basket of its peers, was at 90.007 after a previous low of 89.955.
the Japanese yen was trading at 109.39 per dollar, stronger than the above 110 levels seen against the greenback last week. the Australian dollar changed hands to $ 0.7755, largely keeping gains after last week’s climb below $ 0.768.
Oil prices were lower on morning trading hours in Asia, with international benchmark Brent Crude Futures dipping 0.85% to $ 70.88 a barrel. U.S. crude futures contracts fell 0.88% to $ 68.62 a barrel.
Here’s a rundown of what’s available:
- Japan: First quarter GDP print at 7:50 a.m. HK / SIN