Japan's key Nikkei index dropped below the 8,000 line for the first time in about three weeks following an overnight plunge on Wall Street.

In the first 15 minutes of trading, the 225-issue Nikkei Stock Average lost 304.74 points, or 3.68 percent, from Wednesday to 7, 968.48, trading under the 8,000 line for the first time since Oct. 29.

The broader Topix index of all First Section issues on the Tokyo Stock Exchange was down 27.71 points, or 3.35 percent, to 799.72. The Second Section also lost ground.

Stocks declined across the board, led by insurance, real estate and consumer finance issues.

Investor sentiment in Tokyo remained gloomy after the Dow Jones index in New York retreated below 8,000 for the first time since March 2003 at its closing the previous trading day.

(Xinhua News Agency November 20, 2008)