TOKYO: Most Japanese shares fell on Monday as investors weighed weaker-than-expected domestic growth data and the impact of the Middle East crisis on inflation and bond yields.
The broad Topix share index slipped 0.31 percent to 4,184.11. The benchmark Nikkei 225 reversed earlier losses to close 0.74 percent higher at 69,220.25, with most of its constituents down on the day.
Japan’s economy expanded at an annualised 1.1 percent in the three months through June, undershooting the 2.0 percent median forecast, according to data released on Monday.
The weaker growth, driven by flat private consumption and a 1.2 percent drop in capital spending, added to concerns about the resilience of domestic demand.
Geopolitical tensions in the Middle East, including disruptions to tanker traffic through the Strait of Hormuz, kept oil prices elevated, pushing yields on Japanese government bonds (JGBs) to multi-decade highs.
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