"The worst catalyst is the strengthening yen. Investors can't get optimistic about the Japanese economy"
- Koji Toda, chief fund manager at Resona Bank Ltd.
Japanese stocks ended Tuesday's session in red, as the yen strengthened after data showed Spain fell into recession.
The Nikkei 225 fell 1.78%, or 169.94 points, to 9,350.95. The broader Topix lost 1.84%, or 14.78, to 789.49.
"The worst catalyst is the strengthening yen. Investors can't get optimistic about the Japanese economy," said Koji Toda, chief fund manager at Resona Bank Ltd. in Tokyo."The number of companies where earnings are improving as much as investors' expectations is relatively small."
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