Japan government spokesman: Global economy in moderate recovery

TOKYO - Japan's top government spokesman said on Thursday that the global economy as a whole was in a moderate recovery and that the trend was likely to continue.

Chief Cabinet Secretary Yoshihide Suga told a news conference that Japan's economy was on a firm footing with corporate earnings at a record-high level.

He declined to comment on stock price falls but said the government would closely monitor overseas and domestic economies.

The benchmark Nikkei share average dropped four per cent at one point and the dollar traded around 117.50 yen (S$1.43).