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"There's concern that the euro's weakness is going to continue"
- Naoki Fujiwara, fund manager at Shinkin Asset Management Co.
Japanese stocks dropped on Friday as pessimism over Europe's economic prospects outweighed strong data from U.S. The Nikkei 225 lost 1.16%, or 98.36 points, to 8,390.35, while the broader Topix shed 0.91%, or 6.68, to 729.60.
"There's concern that the euro's weakness is going to continue," said Naoki Fujiwara, who helps oversee $6 billion at Shinkin Asset Management Co. in Tokyo. "It's a big negative for Japanese exporters."
"Italy, Spain and other European countries are going to be rolling over a lot of debt," Shinkin Asset's Fujiwara said. "That's weighing on the yen and it's a burden for Japan."