"A deficit for this calendar year is now a sure thing"
- Yoshimasa Maruyama, a senior economist at Itochu Corp.
Japan's trade deficit widened by more than expected in May on increased fuel imports, while exports surged 10 per cent, easing concerns the Japanese economy is slowing. Deficit came in at 907.3 billion Yen, said the Ministry of Finance on Wednesday.
"A deficit for this calendar year is now a sure thing," said Yoshimasa Maruyama, a senior economist at Itochu Corp.
The Nikkei 225 Stock Average gained 1.11 per cent, or 96.44 points, to 8,752.31. The broader Topix Index added 1.72 per cent, or 12.65, to 747.34.
"I did not expect that exports were this strong given the current world economic situation," said Takao Goto, a market analyst at SBI Securities Co.
"The strong exports were led by the automobile sector, the biggest industry in Japan, so the positive influence on the Japanese economy would be large."
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