{"id":114439,"date":"2021-05-18T00:58:52","date_gmt":"2021-05-18T00:58:52","guid":{"rendered":"https:\/\/fin2me.com\/?p=114439"},"modified":"2021-05-18T00:58:52","modified_gmt":"2021-05-18T00:58:52","slug":"asia-pacific-stocks-edge-higher-first-quarter-data-shows-japans-economy-contracted","status":"publish","type":"post","link":"https:\/\/fin2me.com\/markets\/asia-pacific-stocks-edge-higher-first-quarter-data-shows-japans-economy-contracted\/","title":{"rendered":"Asia-Pacific stocks edge higher; first-quarter data shows Japan&#x27;s economy contracted"},"content":{"rendered":"<ul>\n<li>Japan&#x27;s economy shrank at an annualized rate of 5.1% in January to March, government data showed Tuesday.<\/li>\n<li>Minutes from the Reserve Bank of Australia&#x27;s May policy meeting are also set to be out at 9:30 a.m. HK\/SIN.<\/li>\n<\/ul>\n<p><strong>SINGAPORE \u2014 <\/strong>Shares in Asia-Pacific rose in Tuesday morning trade, as investors reacted to the release of Japan&#x27;s first quarter gross domestic data.<\/p>\n<p>In Japan, the Nikkei 225 gained 0.89% in early trade while the Topix index advanced 0.66%.<\/p>\n<p>Japan&#x27;s economy shrank at an annualized rate of 5.1% in January to March, government data showed Tuesday. On a seasonally adjusted basis, gross domestic product in January-March fell 1.3% quarter-on-quarter, slightly lower than expectations in a Reuters poll for a 1.2% decline. That came as resurgent Covid infections in the country snapped two quarters of consecutive growth.<\/p>\n<p>South Korea&#x27;s Kospi edged 0.55% higher. The S&amp;P\/ASX 200 in Australia rose 0.32%.<\/p>\n<p>MSCI&#x27;s broadest index of Asia-Pacific shares outside Japan traded around 0.1% higher.<\/p>\n<p>Looking ahead, minutes from the Reserve Bank of Australia&#x27;s May policy meeting are set to be out at 9:30 a.m. HK\/SIN.<\/p>\n<p>On the coronavirus front, the World Health Organization warned Monday that the global pandemic isn&#x27;t over yet despite high Covid vaccination rates in some countries. In Asia, places such as Singapore and Taiwan have seen a recent resurgence in local infections, prompting authorities to tighten restrictions in a bid to stem the virus&#x27; spread.<\/p>\n<table><\/table>\n<p>Overnight stateside, the Dow Jones Industrial Average dipped 54.34 points to close at 34,327.79 while the S&amp;P 500 shed 0.25% to 4,163.29 and the Nasdaq Composite slipped 0.38% to end the trading day on Wall Street at 13,379.05.<\/p>\n<h2>Currencies and oil<\/h2>\n<p>The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.181 \u2014 still off levels above 90.8 seen recently.<\/p>\n<p>The Japanese yen traded at 109.23 per dollar after strengthening from levels around 109.5 against the greenback yesterday. The Australian dollar changed hands at $0.7772, stronger than levels below $0.774 seen last week.<\/p>\n<p>Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up slightly at $69.50 per barrel. U.S. crude futures also traded fractionally higher at $66.30 per barrel.<\/p>\n<p>Here&#x27;s a look at what&#x27;s on tap:<\/p>\n<ul>\n<li>Australia: Minutes from the Reserve Bank of Australia&#x27;s May policy meeting at 9:30 a.m. HK\/SIN<\/li>\n<\/ul>\n<p>Source: <a href=\"https:\/\/www.cnbc.com\/2021\/05\/18\/asia-markets-japan-gdp-data-covid-in-asia-currencies-oil.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japan&#x27;s economy shrank at an annualized rate of 5.1% in January to March, government data showed Tuesday. Minutes from the Reserve Bank of Australia&#x27;s May [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":114438,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Asia-Pacific stocks edge higher; first-quarter data shows Japan&#x27;s economy contracted - Fin2me<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fin2me.com\/markets\/asia-pacific-stocks-edge-higher-first-quarter-data-shows-japans-economy-contracted\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Asia-Pacific stocks edge higher; first-quarter data shows Japan&#x27;s economy contracted - Fin2me\" \/>\n<meta property=\"og:description\" content=\"Japan&#x27;s economy shrank at an annualized rate of 5.1% in January to March, government data showed Tuesday. 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