"I still think Europe overall is just buying time for its problem, which cannot be resolved in the short term"
- Alex Au, Hong Kong-based managing director of Richland Capital Management Ltd.
Japanese stocks fell on Friday after U.S. economic data showed the recovery in the world's largest economy is losing momentum.
The Nikkei 225 erased 0.28%, or 27.02 points, to 9,561.36. The broader Topix retreated 0.27%, or 2.19, to 811.94.
"I still think Europe overall is just buying time for its problem, which cannot be resolved in the short term," said Alex Au, Hong Kong-based managing director of Richland Capital Management Ltd.
"From time to time in the next few years I think we will see panic situations. The market is very thin and liquidity is low, so if someone wants to push the market down it won't be too difficult. Investors are holding a lot of cash."
© Dukascopy Bank