Market Report - Japan: GDP Worst Ever

1. Japan's economy shrank by the greatest margin ever in the first quarter, as the plunge in global demand hit the nation's export industries.

2. GDP contracted a record 4.0 percent from January to March, not as bad as expected but far worse than the U.S. or Europe, which shrank 1.6 percent and 2.5 percent, respectively.

3. Japanese stock investors, though, focused on a possible return to growth this year, as the impact of $160 billion in stimulus measures take hold.

4. The Nikkei edged up in morning trading on gains by firms like Nissan Motor, which said government incentives for buying low-emission cars had boosted sales sharply.

5. and Recovery in Japan is expected to be fragile, after thousands of job cuts and amid still weak global demand. Domestic demand stocks such as retail stores rose, while top bank Mitsubishi UFJ declined after announcing a $2.2 billion quarterly loss late Tuesday.

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