* Nikkei 225 Stock Average: -30.40 (-0.17%) to 17,498.60 (open: 17,586; range: 17,482 - 17656)
* Nikkei 225 futures Osaka: -30 (-0.17%) to 17,530 (open: 17,610; range: 17,480 - 17,670)
* TOPIX 1st Section: -4.62 (-0.27%) to 1,707.27 (open: 1,718.02; range: 1,704.02 - 1,724.35), Advancers 653 x Decliners 926 (Unchanged: 146), 13/33 sectors posted gains
* JASDAQ: -0.70 (-0.88%) to 78.97 (open: 79.67; range: 78.91 - 79.75)
* Yen at three-month lows against the US$ at ~121

BoJ votes unanimously to hold at 0.50%, meaning the yen carry trade persists; creates some support for exporter stocks, especially those with the most bullish forex forecasts.

GDP significantly lower sequentially, but not a fair comparison; still it disappointed at 2.4% annualized versus analysts’ average estimate of 2.7%. Mixed bag since consumer spending offset capital investment weakness. The latter is inevitable given the rates of capex in the recent past. The burden to support sustained economic growth and bid a final farewell to deflation is higher spending. Perhaps higher prices will meet higher wages and everything will be alright …

Nintendo (JP: 7974) (NTDOY.PK) holds ¥40,000 adds 4.2% to ¥41,800