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…..
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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.”