Friday May 16, 01:41 AM
Tokyo shares open higher after strong GDP data
TOKYO (Thomson Financial) - Japanese shares opened higher on Friday as investors cheered better-than-expected gross
domestic product data.
The Cabinet Office said gross domestic product expanded 0.8 percent in real terms in the
January-March quarter and at an annualized rate of 3.3 percent, buoyed by brisk exports to
emerging markets like China.
The growth beat market expectations. Ten economists polled by Thomson Financial News were looking at 0.4 percent growth for the quarter and an annualized pace of 1.5 percent, on average.
At 9:07 a.m. (0007 GMT), the Nikkei (news) 225 Stock Average was up 122.49 points or 0.9 percent at
14,374.23.
The broader Topix rose 17.06 points or 1.2 percent to 1,409.93.
($1 = 104.69 yen)
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