Asia Stock Trade High; Japan’s second quarter gross domestic product improved


Singapore – Stocks in Asia-Pacific were higher on Tuesday morning, as Japan released revised GDP 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 data for the April-June quarter showed the country’s economy shrinking 28.1% as an annual office, according to second preliminary estimates released by the Cabinet Office. This was worse than the initial estimates released in mid-August, which showed the country’s economy shrinking 27.8% on an annual basis in April-June.

Tuesday’s GDP figures with an average 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 a level of 106.2 against the greenback yesterday.

Elsewhere, South Korea’s Kospi rose 0.59%. Shares in Australia also gained, with the S&P / ASX 200 trading 0.99% higher.

Overall, the MSCI Asia Ex-Japan Index trades 0.22% higher.

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