07:23 AM EDT, 04/15/2024 (MT Newswires) -- Asian stock markets tracked cautiously lower Monday as traders weighed Middle East tensions and awaited an economic data dump from Beijing on Tuesday.

Hong Kong and Tokyo finished in the red, as did most other regional exchanges.

Bucking trends, China exchanges finished higher after Beijing late Friday revealed plans for encouraging corporate stock

buybacks. Bangkok remained closed on holiday.

In Japan, the Nikkei 225 opened lower and drifted, finishing off 0.7% even as a softening yen undergirded export issues.

The benchmark Nikkei 225 fell 290.75 to 39,232.80, as losing issues outnumbered gainers 119 to 103.

Leading the upside was utility Tokyo Electric Power, up 5.8%, while Astellas Pharma declined 8%.

In economic news, the Japanese yen traded to a fresh 34-year against the US dollar, near 154 to the greenback. At the start of 2023, the yen traded near 130 to the US dollar.

In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing off 0.7% on mounting concerns regarding Iran-Israeli hostilities. Property and tech sectors were soft.

The broad gauge Hang Seng fell 121.23 to 16,600.46, as losing issues outnumbered gainers 59 to 23. The Hang Seng TECH Index lost 0.9% on the day, while the Mainland Properties Index fell 1.1%.

Leading the upside was computer-maker Lenovo, gaining 2.6%, while Chow Tai Fook Jewelry brought up the rear, falling 7.9%.

On the mainland, the Shanghai Composite gained 1.3% to 3,057.38, after Beijing on late Friday unveiled incentives for listed companies, including state-owned, to buy back shares.

Traders in Hong Kong also awaited reports from Beijing, slated for Tuesday, regarding Q1 gross domestic product, and March industrial production, retail sales and employment.

On the other regional exchanges, the S. Korean KOSPI fell 0.4%; the Taiwan TWSE declined 1.4%; the Australian ASX 200 declined 0.5%; and the Singapore Straits Times Index fell 1%. In late trading in Mumbai, the Sensex was down 1.1%.

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