"The rate cuts … aren't necessarily going to improve the macro-economic statistics"
- Ichiro Takamatsu, a fund manager at Bayview Asset Management Co.
Japanese stocks extended losses on Friday as rate cuts in Europe and China failed to restore investors' confidence.
The Nikkei 225 Stock Average retreated 0.65 per cent, or 59.05 points, to 9,020.75. The broader Topix Index declined 0.58 per cent, or 4.54, to 771.83.
"The rate cuts have an announcement effect and they send a message that the authorities care about the economy, but the moves aren't necessarily going to improve the macro-economic statistics," said Ichiro Takamatsu, a fund manager at Tokyo- based Bayview Asset Management Co.
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