Japanese Shares Rally on GDP Surprise
The Nikkei 225 Index jumped 1.71% to 43,378, while the broader Topix Index rose 1.63% to 3,108 on Friday, rebounding from the prior session’s losses as stronger-than-expected GDP data lifted sentiment.
Japan’s economy expanded 0.3% in the second quarter, accelerating from a 0.1% growth in Q1 which was also the consensus forecast. The upside surprise was driven mainly by net exports, which added 0.3 percentage points to growth despite headwinds from US tariffs.
Globally, hotter-than-expected US producer price inflation tempered bets on a supersized half-point Federal Reserve rate cut next month. Top gainers included Lasertec (+8.3%), Mitsubishi UFJ (+6%), SoftBank Group (+6.4%), Sumitomo Mitsui (+4.6%), and Tokyo Electric (+1.2%). For the week, the Nikkei and Topix rallied 3.73% and 2.76%, respectively.
Source : Tradding Economics