"Equity markets are in a hurry for a resolution, and I don't think policy makers, politicians and central banks in Europe can meet that expectation in a realistic way"
- Platypus Asset Management Ltd.
Japanese stocks fell after Moody's cut the outlook for Germany, the Netherlands and Luxembourg, increasing concerns over the Eurozone debt crisis. The Nikkei 225 retreated 0.2% to 8,492.59. The broader Topix Index slid 0.4% to 717.66.
"It's becoming increasingly obvious that the European situation will take a long time to solve," said Diane Lin, Fund Manager at Pengana Capital Ltd. "Europe is a large economy in the world and it will have a serious impact on the export sector across the region."
"Equity markets are in a hurry for a resolution, and I don't think policy makers, politicians and central banks in Europe can meet that expectation in a realistic way," said Prasad Patkar of Platypus Asset Management Ltd. in Sydney. "It's going to take a lot longer to solve Europe."
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