In a development which disappointed analysts and investors once again, Sony Corp., posted a large operating loss for the fourth consecutive quarter. The electronics and gadgets giant has been hit hard by rapidly falling cell phone sales, a weak economy and the fact that it had cut down the prices of its PlayStation 3 gaming console in hopes of attracting more customers.

Dragged down by a stronger yen and sharp losses in Wall Street, Japan’s Nikkei, for the first time, hit the closest ever in last three weeks. The stock closed at 10000 for the first time.

"If GDP is lower than the market expects this will inevitably raise worries about the outlook for the next quarter and whether the pace of recovery will slow still further", said Masayoshi Okamoto, head of dealing at Jujiya Securities.

After a temporary crisis, the downfall will soon come to an end, claimed the analysts.

Boosted by the purchase of Austrian Airlines AG and U.K. carrier BMI, the Deutsche Lufthansa AG, which is Europe’s second-largest airline, managed a high by 24 per cent in its profits in the third quarter.

The net income of the company went up by $271 million (184 million euros), as compared to 149 million euros, a year ago. According to reports, Deutsche Lufthansa is purchasing weaker airlines to build market share.

Expecting a tough fourth quarter, the airlines are expected to incurred a loss of $11 billion this year.

Affected by the absence of new games, Nintendo Company was well disappointed by a downfall of its annual profits. The annual forecast of Wii video game is also expected to go down.

The net profit of the company went down by more than half to 69.49 billion yen (770 million dollars), as compared to 144.83 billion from the last year. The company expects a lower net income till March, which can fall to 230 billion yen ($2.5 billion).

Expecting an all together economic development, the International Monetary Fund believes a better forecast for the Asian countries for the coming six quarters.

The Asian countries are expected to achieve more than 6 percent growth in domestic product in the current 2009-10 fiscal year (July 2009-June 2010) with strong efforts in reforming infrastructure, tax system, banking and service sectors.

Backing the rumors, a Washington-based fund, claimed that all Asian countries, including New Zealand, are expected to grow by 2.75 percent in 2009 and 5.75 percent in 2010.

The country biggest lender of foreign exchange, Bank of China, has reported a 19% rise in its profit in the third quarter report made public recently. This is being seen as one the most positive developments that the country has lately witnessed and is a sign of China's improving economic situation.

China, which is currently the world's third ranked economy, is steadily growing more powerful. From the January-September period this year, banks across the country extended 8.67 Trillion Yuan ($1,270 Billion) in loans, which was way ahead of the minimum yearly target of 5 Trillion Yuan.