TOKYO: Japanese shares headed lower on Monday despite revised economic growth figures beating expectations by a wide margin.
The world’s third largest economy expanded 1% in the first three months from the previous three, up from an initial estimate of 0.6%.
It also grew 3.9% on an annualised basis, compared to a preliminary reading of 2.4% and was much higher than forecasts of 2.7% growth.
The benchmark Nikkei 225 index was down 0.3% to 20,397.03.
Shares were also lower even though a positive US jobs report on Friday also helped pushed the yen down against the dollar, which is good for Japanese exporters as it makes them more competitive overseas and increases profits when repatriated.
The dollar was at 125.58 yen against 125.56 yen in New York on Friday. The dollar had briefly hit a 13-year high of 125.86 yen.
