Asian Stocks Mixed as Japan's Growth Revised Upward

Asian stock markets were mixed on Tuesday as US markets observed Labor Day. The Tokyo Nikkei 225 index fell 0.3% to close at 66,170.34 despite a revision in Japan's economic growth. The country's economy expanded at a 1.4% annualized rate for the April-June quarter, up from the previously estimated 1.1%. This increase is attributed to stronger business investment, but overall investment still contracted by 0.9%, according to analysts from Oxford Economics.

The economists highlighted concerns about a fading boost in consumer spending and accelerating supply-side inflation as businesses transfer increased costs to consumers. The US dollar declined against the Japanese yen, dropping to 153.47 yen from 154.34 yen the previous day. This decline is attributed to expectations of government intervention to stabilize the yen's position.

The South Korean market displayed resilience, with the Kospi index climbing 1% to 7,060.79 amidst continued investment in computer chipmakers. Samsung Electronics saw an increase of 2.9%, while SK Hynix, a memory chipmaker, rose by 5.3%. In contrast, Hong Kong's Hang Seng index declined by 0.4% to 25,312.10.