Nikkei Falls as Japanese Economy Contracts 0.3% in Quarter

Japan’s Nikkei index saw all the gains made this year wiped out after it fell below 17,450.77 points on Tuesday.

The benchmark index finished the day down 2.43% at 17,427.08 points.
Analysts said investors were concerned about China’s economy following latest trade numbers released on Tuesday.

Investors also reacted to Japan’s revised growth numbers released earlier which analysts said had not eased concerns about the state of the nation’s economy.

Japan’s economy contracted 0.3% during the quarter, compared with original calculations of a 0.4% contraction.

The revision beat market expectations, which were for a contraction of 0.5%, but did little to calm investors.

The world’s third largest economy also revealed a revised fall in private consumption on Tuesday to 0.7% from a previous estimate of 0.8%.

via BBC

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