"The worsening of exports reflected both the global slowdown and anti-Japan protests in China"
- Naoki Iizuka, from Citigroup Global Markets
Japan posted its worst September trade figures since 1979, as exports tumbled 10%, hit by the global slowdown, territorial dispute between China and Japan weighed on the economy as well. Monthly trade deficit increased to 558.6 billion yen ($7.0 billion), above analysts' expectation of a reading of about £2.3bn. At the same time, shipments to the world's second biggest economy dropped 14.1% in September from a year ago.
"There's a high chance that Japan's economy will have two consecutive quarters of contraction through December," said Yoshimasa Maruyama, chief economist at Itochu Corp. in Tokyo. "The slump in advanced nations is spreading to emerging economies."
"The worsening of exports reflected both the global slowdown and anti-Japan protests in China," said Naoki Iizuka, from Citigroup Global Markets in Tokyo.
The Nikkei 225 Stock Average climbed 0.22 per cent, or 19.82 points, to 9,002.68. The broader Topix Index gained 0.28 per cent, or 2.09 points, to 754.39.
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