Asian Markets Mixed as Labor Day Holiday Closures Continue

Asian markets were mixed on Tuesday after Labor Day holiday closures in the US. The Nikkei 225 index in Tokyo fell 0.3% to 66,170.34, despite an upward revision of Japan's economic growth rate from 1.1% to 1.4% annual pace in the April-June quarter.

Norihiro Yamaguchi of Oxford Economics attributed the stronger business investment to policy measures introduced earlier this year, but warned that inflation will accelerate as firms pass on increased costs to consumers.

The yen surged against the dollar, reaching 153.47 yen from 154.34 yen due to expectations of US-Japan intervention to prevent further weakening.

South Korea's Kospi index rose 1% to 7,060.79, led by sustained buying of computer chipmakers like Samsung Electronics and SK Hynix.