Japan’s surprise gains

asIaN stocks were given a lift after the Japanese economy made unexpected gains in the first quarter.

the country’s total output was 2.1pc higher in the first three months than a year earlier, while analysts had expected a 0.2pc drop.

the surprise expansion was partly because of imports declining faster than exports, with a boost from the crowning of a new emperor, the rugby World cup starting in september and a lift in spending ahead of tax increases.

It prompted the Nikkei stock index to edge 0.2pc higher, although there were fears about cooling demand at home. takashi Hiroki, at tokyo-based Monex securities, warned a slowdown could be on the way.