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Recession fears set stocks on course for weekly drop

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Asian stocks slid toward their worst week in a month-and-a-half on Friday and oil nursed losses, while bonds enjoyed their best bid in weeks as U.S. data and earnings showed signs of weakness.

Corporate governance in Japan has, and seems to be rousing the world's third-largest stock market out of decades of lethargy.

"If you're buying value in Japan, if I'm looking at and just buy the cheap P/E names, that’s it, you’ve outperformed the market."above the central bank's target in March, data showed on Friday, keeping alive market bets that the Bank of Japan could phase out its policy of enormous bond buying to pin down government bond yields.

"It looks like market participants have taken positions in preparation for policy changes ahead of the meeting," said Nomura strategist Naka Matsuzawa, though he expects no change.

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