Asia Mostly Sinks on Japan Figures

Shares in Asia-Pacific were mostly lower on Tuesday, as investors reacted to the release of Japan’s revised first-quarter gross domestic product figures.

In Japan, the Nikkei 225 dipped 55.68 points, or 0.2%, to 28,963.56.

Revised government data released Tuesday showed Japan’s economy shrank 3.9% in the first quarter, an improvement from the initial estimate of a 5.1% contraction. The revised gross domestic product compared against economists’ median forecast in a Reuters poll for a 4.8% contraction.

The Japanese yen traded at 109.48 per U.S. dollar, stronger than levels above 110 seen against the greenback last week.

In Hong Kong, the Hang Seng fell 5.9 points to 28,781.38.

The Australian dollar changed hands at $0.7741, largely holding on to gains after last week’s climb from below $0.768.

In other markets

In Shanghai, the CSI 300 slipped 45.51 points, or 0.9%, to 5,232.12.

In Singapore, the Straits Times Index dropped 8.67 points, or 0.3%, to 3,167.14

The Kospi index in Korea retreated 4.29 points, or 0.1%, to 3,247.83

In Taiwan, the Taiex index lost 7.7 points, or 0.1%, to 17,076.21

In New Zealand, the NZX 50 returned from a long weekend with a gain of 21.38 points, or 0.2%, to 12,517.65.

In Australia, the ASX 200 regained 10.7 points, or 0.2%, to 7,292.59.