Japanese stocks rallied to an all-time record close after data was released that showed the Japanese economy beating expectations in the second quarter, as the effects of U.S. tariffs were balanced by somewhat resilient domestic demand and firm exports.
Real gross domestic product in the three months ended in June rose by an annualized 1%, the Cabinet Office reported Friday. Analysts had been forecasting growth of about 0.3% to 0.4%.
The Japanese economy has now expanded for five consecutive quarters.
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