Japan's Nikkei stock average lost 2.9 percent on Monday and touched its lowest point in more than two weeks, with exporters hit as the yen advanced and Panasonic Corp <6752.T> tumbling after issuing a gloomy earnings outlook. Panasonic fell more than 7 percent after it forecast a bigger-than-expected annual loss following a record quarter of red ink battered by weak demand, price falls and restructuring costs.

The benchmark Nikkei <.N225> lost 264.67 points to 9,000.35 after briefly falling as low as 8,997.74, its lowest since May 1, while the broader Topix <.TOPX> fell 2.7 percent to 857.52.

(Reporting by Elaine Lies)

Nikkei 225 Earth Down Japan