DHAKA: Japan’s economy expanded an annual rate of 1.9% rate in the first quarter of this year, revised from a preliminary figure of 1.7%, according to official figures on Wednesday.
The revised figure was in line with analysts’ estimates, reports the BBC.
Markets in Tokyo fell in early trading as the higher GDP figure reduced the chance of further economic stimulus measures by the Japanese government.
The Nikkei 225 index fell 14.3 points to 16,661.1.
The broader Topix index was flat at 1,339.8 points.
Shuji Tonouchi, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities, said, ‘The upward revision is very slight, and when you exclude the impact of leap year growth is not that strong’.
‘We expect growth to slow in the current quarter. The government should focus on steps to help low-income earners, but consumption may not rise much if consumer sentiment worsens.’
Other stock markets in Asia were mixed ahead of Chinese trade data that is expected to show continued weakness in the world’s second-biggest economy.
Chinese exports are forecast to have fallen by 4% in May.
New Zealand’s NZX 50 and Australia’s ASX200 were both 0.3% lower.
BDST: 1522 HRS, JUN 08, 2016
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