HONG KONG (MarketWatch) -- Asian stocks suffered sharp losses Thursday, with Japan's Nikkei edging back toward the past month's lows, with Sony Corp. under pressure in a glum session for electronics makers after data showed Japan's exports continue to decelerate.

Tokyo's Nikkei (JP:1804610: news, chart, profile) extended loses in the afternoon session, falling 6% to 7,774.63, dipping below the 8,000-point level for the first time since Oct. 29. Japanese exports declined 7.7% in October from a year earlier, their biggest drop in almost seven years, according to data released Thursday by the Finance Ministry.