Japan`s Nikkei stock index opened 1.49 percent lower Thursday after Wall Street plunged on dismal US economic data.

The benchmark index lost 123.45 points to 8,149.77 in the first minute of trading.

US stocks plunged to five-and-a-half-year lows Wednesday after data revealed a sharp deterioration in the world`s largest economy.

The blue-chip Dow Jones Industrial Average tumbled 5.07 percent to 7,997.28, the first finish below 8,000 since March 2003.

US government reports showed a record fall in consumer prices and a record low in starts on housing construction, as struggling automakers begged Congress for a second straight day for a bailout.