"Europe is sliding further into a recession and the global and U.S. economies are still slowing down, and so I think this is a soft patch"
- Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd.
Japanese stocks declined on Thursday, as European and U.S. data added to signs the global economic outlook is deteriorating.
The Nikkei 225 Stock Average retreated 0.22 per cent, or 18.95 points, to 8,568.89. The broader Topix Index lost 0.11 per cent, or 0.78, to 725.66.
"Europe is sliding further into a recession and the global and U.S. economies are still slowing down, and so I think this is a soft patch," said Shane Oliver, Sydney-based head of investment strategy at AMP Capital Investors Ltd.
"It's still the time for caution on the short-term view. There's a lot of event risk around."
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