SINGAPORE — 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. Read more…..
Chart of the Day
Icarus TV
Aaron Stern, Fir Tree Capital Management managing partner and director, explains why his firm finds Japanese equities attractive. He speaks with Bloomberg’s Ed Hammond on “Bloomberg Markets: The Close.”
