Tokyo - Tokyo stocks lost more than 2 per cent Wednesday on the nation's weak gross domestic product data and overnight falls in the US market.

The Nikkei 225 Stock Average plunged 297.02 points, or 2.23 per cent, to 13,006.58.

The broader Topix index of all first-section issues also fell 26.46 points, or 2.08 per cent, at 1,244.96.

The Japanese government reported Wednesday that the nation's economy showed the first fall in four quarters.

Japan's gross domestic product (GDP) in the April-June quarter shrank 0.6 per cent from the previous quarter.

New York  - US markets fell Tuesday as analysts said financial firms may report more losses tied to the credit crunch and sub-prime mortgage crisis.

"It's going to be like a long, slow car crash to work through the housing situation," Joseph Veranth of Dana Investment Advisors told Bloomberg financial news. "We're still in the middle of it."

Indian stock markets closed with huge loss on Tuesday due to poor IIP numbers. Traders booked profits in select counters. Banking, Technology and Pharmaceutical counters were trading weak.

Indian stock markets are likely to advance today on the back of declining crude prices.

Indian equities marked their closure positively on Monday (August 11) gaining more than 300 points towards the closing session.

Crude oil, which fell to $115.20 on Friday (August 8) because of strong rise in US dollar, helped to cheer the market outlook.

Realty and Banking witnessed heavy buying action, whereas selling was seen in IT and consumer durable sectors.

The Midcap and Smallcap index also traded positively all through the day gaining 1.63% and 1.25% respectively.

Tokyo - Tokyo stocks opened lower Tuesday as investors sold shares to lock in profits from the previous day's gains.

The Nikkei 225 Stock Average, which ended nearly 2 per cent higher Monday, was down 0.71 per cent in morning trading, or 95.04 points, to 13,335.87.

The broader Topix index of all first-section issues was also down 2.34 points, or 0.18 per cent, at 1,277.66.

On currency markets at 9 am (0000 GMT), the dollar was quoted at 110.11-13 yen, up from Monday's 5 pm quote of 109.83-85 yen.

New York - US stocks rallied Monday after oil prices dropped below 115 dollars per barrel, boosting both retailers and credit card companies.

Wal-Mart Stores was set to increase its profit forecast, and American Express and Capital One Financial Corp both rose more than 2 per cent.