Tokyo Nikkei 225 up 1.12% at 40,074 points (Il Sole 24 Ore Radiocor) - Tokyo , 02 Jul - Japanese shares closed broadly higher after yesterday's flat session amid muted Asian markets.

In Tokyo dealings financials rose on speculation that the Bank of Japan might raise interest rates again in the near future amid a weakening yen.

The currency hovered at its weakest in nearly 38 years.

Yesterday the government unexpectedly revised first quarter gross domestic product data to show a much deeper contraction than initially expected, highlighting growing challenges for the Japanese economy.

Prospects of a weaker economy however could ease pressure on the Bank of Japan to increase interest rates.

The Nikkei index closed up 1.12% at 40,074 points.

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(RADIOCOR) 02-07-24 08:37:48 (0163) 5 NNNN