Tokyo - Japan's benchmark Nikkei 225 Stock Average on Friday lost nearly 10 per cent of its value, tumbling below 8,000 for the first time since May 2003, on indications the global financial crisis was beginning to hit the nation's exporters.

The Nikkei shed 811.9 points, or 9.6 per cent, to close at 7,649.08.

The broader Topix index of all first-section issues plunged 65.59 points, or 7.52 per cent, to 806.11.

The tumble was led by Sony Corp, whose shares plunged 14 per cent one day after the world's second-largest electronics company warned its profits this year were expected to drop nearly 60 per cent compared with last year.

Tokyo - Japanese parliament on Friday approved a government nominee to fill a vacancy at the central bank's deputy governorship.

Hirohide Yamaguchi, 57, who currently serves as the Bank of Japan's executive director, was appointed as the bank's deputy governor after the opposition-controlled upper house supported the government's choice.

Tokyo - Japan markets continued their losing streak Friday with the key Nikkei index dropping nearly 3 per cent.

In the first 15 minutes of trading, the Nikkei 225 Stock Average lost 232.45 points, or 2.75 per cent, to 8,228.53.

The broader Topix index of all first-section issues was down 24 points, or 2.75 per cent, to 847.7.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 97.58-63 yen, down from Thursday's quote of 97.68-70 yen.

Beijing, Oct 23 : Prime Minister Dr. Manmohan Singh on Thursday arrived in Beijing to attend the seventh Asia-Europe Meeting (ASEM-7) scheduled from Friday after his three-day visit to Japan.

On his arrival to Beijing, Dr. Singh said, “This is the first time that I am attending the Asian-European summit as a Prime Minister.”

“I sincerely hope that this meeting of minds between Europe and Asia will produce a solution to many global problems including the current global financial crisis,” Dr. Singh added.

Tokyo - Sony Corp revised downward its expected earnings for the current fiscal year by 38 per cent on a strengthening yen and slowing demand for consumer electronics amid a sluggish global economy, the company said Thursday.

The second-largest maker of consumer electronics in the world now expected a net profit of 150 billion yen (1.51 billion dollars) for the year ending March 31, down from an initial projection of 240 billion yen announced in July.

Last year, Tokyo-based Sony made a net profit of 369.44 billion yen.

Tokyo, Oct 23: While addressing the reception hosted by Japan-India Association and Japan-India Parliamentary Friendship League, Prime Minister Dr. Manmohan Singh has thanked Japan for providing development assistance for India''s industrial modernization.

"In the next phase of our relationship, we seek to exploit the opportunities offered by globalization and by the synergies in our economies to expand flows of trade, technology and investment," Dr. Singh said.

He said that there are around 15000 strong Indian Diaspora in Japan largely involved in the technological professions and have toiled to make a mark in the Japanese society.