HONG KONG, Japan (AFP) – Asian stocks slid on Thursday on weaker than expected economic data from China and global economic fears, despite growing business confidence in Japan.

Japan's Nikkei index closed down 191.04 points, or 2.04 percent, at 9,191.60, its lowest since November 2009.

TOKYO – Major Japanese manufacturers — riding high from a booming Asia — haven't felt this good in two years.

A key central bank report released Thursday showed business confidence among Japan's biggest manufacturers improved for a fifth straight quarter, thanks to Asia's rapid rebound from the global recession, which has bolstered demand for the country's exports of consumer gadgets, cars and other goods.

LONDON (AFP) – World stock markets were under strain on Wednesday over a deadline for European banks to repay 442 billion euros in crisis funding and an ominous drop in confidence in global recovery prospects.

Just days after G20 world leaders pledged in Toronto to slash state debt and nurture a shaky rebound, markets plunged on Tuesday on heightened concern over a double-dip global recession after a wave of poor economic data.

BASEL, Switzerland (Reuters) – Governments must slash budget deficits decisively and central banks should not wait too long to raise borrowing costs as side effects from measures prescribed to tackle the global recession may create the next crisis, the Bank for International Settlements said.

The global economy as well as financial markets were on the mend, though the recovery remained fragile in the advanced economies and in the euro zone the debt crisis put the recovery at risk, the BIS said in its annual report, published on Monday.

(Reuters) – Here are some developments as leaders of the Group of Eight advanced economies and Group of 20 advanced and emerging economies meet in Canada.

TOP DEVELOPMENTS

* The world's richest economies, loaded with debt after spending their way out of the financial crisis, papered over differences on how to clean up their finances with minimal damage to growth.

WASHINGTON/TORONTO (Reuters) – World leaders will warn this week against taking the global economic recovery for granted while also noting that the huge costs of stimulus could hurt long-term growth, a draft G20 document shows.

The Group of 20, which meets in Toronto this weekend, has won credit for preventing a global recession in 2008 from becoming a depression. But as the economy recovers, G20 unity is fraying.

SHANGHAI – China's economy is showing signs of softening after its strong stimulus-fueled rebound last year, the World Bank says in its latest quarterly update.

Industrial production and other key indicators show the pace of growth moderating albeit remaining relatively strong, supported by real estate investment and a recovery in export demand, said the report, released Friday.

ROME – The rising economies of Brazil, China, and India will see strong growth in their agricultural sectors in the next decade as output remains stagnant among big importers in Western Europe, international experts forecast Tuesday.

BANGALORE (Reuters) – The chairman of No. 2 Indian software services exporter Infosys Technologies' on Saturday said recovery from the global financial crisis may be slow and weak.

Early signs of an emergence from the global recession cannot be taken for granted, and the threat from highly leveraged economies cannot be ignored, Chairman N. R. Narayana Murthy said at the company's annual shareholders' meeting in the south Indian city of Bangalore.

MONTREAL (Reuters) – Policy makers reacting to the global financial crisis should avoid overstepping with harsh new rules that would have adverse economic effects and resist the urge to score political points, industry heads warned on Thursday.

The world's policymakers and regulators are working on a package of new global rules governing banks, derivatives trade, hedge funds and other parts of the complicated capital markets, aimed at avoiding future crises.