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Market Update: Japanese Shares Trade Higher in Early Deals
The NIKKEI 225 lifted 98.67 points or 0.34% to 29117.91 on Tuesday, extending gains of 0.27% in the previous session as better than expected local data boosted risk sentiment, after the Cabinet Office reported Tuesday that local gross domestic product contracted an annualized 3.9% from the final quarter of 2020, beating median forecast from economists and easing concerns over the risk of a double-dip recession this quarter amid yet another round of restrictions to contain the virus. Local 10-year bond yields eased to 0.076% while US 10-year rates were at 1.577%. Sentiment was also lifted as G7 finance ministers reached a historic agreement to reform the global tax system ahead of the highly anticipated G7 leaders’ summit, backing a US proposal that calls for corporations around the world to pay at least a 15% tax on earnings. [/s2If]
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