Japan's export-reliant economy has sunk into recession, with three straight quarters of contraction through June, as the outbreak slammed business activity and stifled trade

Japan's new premier Yoshihide Suga on Wednesday pledged to contain COVID-19 and retain his former boss's \"Abenomics\" growth policies while pushing reforms such as deregulation and digitalisation

Suga, who won a ruling Liberal Democratic Party (LDP) leadership race by a landslide on Monday, faces a plethora of challenges, including tackling COVID-19 while reviving a battered economy and dealing with a rapidly aging society

Quarter-on-quarter, the economy contracted 7.9%, according to the revised figures, down from 7.8 per cent in the preliminary data. The annual rate shows what the number would have been if continued for a year

Shinzo Abe to step down: The ruling party has said that Shinzo Abe's health is fine amid reports of hospital visits -- including one that lasted nearly eight hours

COVID-19 fallout: Japan's economy contracts at record pace, GDP declines 27.8%Japan was hit by its biggest economic contraction on record in the second quarter as the coronavirus pandemic crushed consumption and exports, keeping policy makers under pressure for bolder action to prevent a deeper recession. The third straight quarter of declines knocked the size of real gross domestic product (GDP) to decade-low levels, wiping out the benefits brought by Prime Minister Shinzo Abe's \"Abenomics...

The world's third-largest economy shrank an annualised 27.8% in April-June, marking the biggest decline since comparable data became available in 1980 and slightly bigger than a median market forecast for a 27.2% drop

On Wall Street on Monday, the Dow Jones Industrial Average closed at a record high for the fifth straight session, and the S&P 500 marked its second straight closing record high, as higher US Treasury yields helped lift financial shares

Industrial output and retail sales also beat forecasts, which helped alleviate fears of slowing momentum, though fixed-asset investment growth slipped and missed market expectations.

Modi and Abe will review implementation of various decisions taken in course of last one year to enhance economic ties, particularly in the trade and investment sector.

The bank kept monetary policy steady, likely expecting the economy to soon emerge from recession with a tight job market pushing up wages and underpinning consumption.

Consumers content to pay a bit more for added-value products offer some counter argument to those proclaiming Abenomics' demise.

The world's third-largest economy shrank an annualised 0.8 per cent in July-September, more than a median market forecast for a 0.2 per cent contraction.

The domestic markets ended higher rebounding from near seven-week lows hit earlier on Monday after WPI inflation dropped for a 12th straight month in Oct.

In India, sentiment was buoyant though firms were irked by the pace of economic reform promised by PM Modi government last year, a survey conducted by Thomson Reuters said.

Marc Faber, publisher of The Gloom, Boom & Doom report speaks to BT's Mahesh Nayak on India's potential, the state of the global economy, and a range of other issues.

According to Nomura, sector-wise, financials, auto, industrials and tech are looking bullish, while consumer staples, pharmaceuticals, metals and telecoms look bearish.

\"I believe the budget will contribute to achieving economic revival and fiscal consolidation at the same time,\" Shinzo Abe told reporters.

Any measures by Japan to stimulate its economy via monetary easing could raise expectations of inflows into emerging markets, said the financial giant.