Around the World's Markets: Tokyo

JAPANESE stocks took a tumble yesterday, led by Sony, as investors feared a grim earnings forecast after the market close from Japan's largest exporter. The benchmark Nikkei index fell 304.61 points, or 2.2 per cent, to 13,516.07, its lowest level in nearly two weeks. The broader Topix index was down 14.37 points, or 1.4 per cent, to 1,028.61.

Sony confirmed the market worries later in the day when it reported an almost 20 per cent drop in second quarter earnings and slashed its full- year forecast by 20.9 per cent to 170bn yen ($1.4n bn).