Asian stocks open on a negative note

Asian stocks declined after Japan`s exports slumped by a record, metal prices dropped and Sanyo Electric forecast a loss.

Sony Corp fell more than 3%. Panasonic which is acquiring Sanyo, declined almost 4%.

Japanese benchmark index Nikkei fell 63.04 points, or 0.74%, to trade at 8,425.26.

Hong Kong`s Hang Seng index dropped 155.57 points, or 1.12%, to trade at 13,754.77.

China`s Shanghai Composite declined 10.80 points, or 0.46%, to trade at 2,327.62.

Taiwan`s Taiex index went up 34.19 points, or 0.65%, to trade at 5,276.37.

South Korea`s Kospi index slipped 7.75 points, or 0.63%, to trade at 1,213.95.

Singapore`s Straits Times decreased 14.90 points, or 0.87%, to trade at 1,691.44. (7.50 a.m., IST).