Japan's Tankan major manufacturers index beats expectations

Japan’s business confidence in the economy rose in the third quarter. According to Tankan research, the confidence index for major manufacturers rose to +9 in the three months ending in September from +5 in June, beating market estimates of +6 and improving for the second consecutive quarter. According to Tankan, major firms expect to increase capital expenditures by 13.6 percent in the current fiscal year ending in March 2024, in line with market estimates, after an increase of 11.7 percent in fiscal 2022.