Japan is sliding.
The Nikkei is down 1.44% in early going.
This comes after a powerful GDP report.
Our colleagues at Business Insider Australia report:
The outcomes show Japan’s economy is slowly getting cracking again with the primary quarter results beating market expectations of 1% to hit a seasonally adjusted annualised rate of 5.9%.
Certainly one of the most important drivers of the surge was consumer consumption leading as much as the April 1 sales tax increase from 5% to eight%. Private consumption reached an annualised rate of 8.5% and helped mitigate the drag down effects of external demand – particularly from the US, one in every of Japan’s biggest export destinations.
The strong number may damp any talk of further BOJ easing, which could also be what’s hitting the Nikkei.