06:36 AM EDT, 04/19/2024 (MT Newswires) -- Asian stock markets retreated Friday on news reports of fresh hostilities in the Middle East, led lower by slumping tech issues.

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

In Japan, the Nikkei 225 opened lower and lost ground thereafter, finishing off 2.7%.

The benchmark Nikkei 225 fell 1,011.35 to 37,068.35 as losing issues outnumbered gainers 206 to 19.

Leading the thin upside was drugmaker Daiichi Sankyo, up 2.2%, while semiconductor company Tokyo Electron declined 8.7%.

In economic news, Japan's core inflation rate, which strips out fresh food prices, posted at 2.6% in March, a moderation from the 2.8% year-on-year gain logged in February, reported Japan's Statistics Bureau.

In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 1% after reports of explosions in Iran.

The broad gauge Hang Seng fell 161.73 to 16,224.14, as losing issues outnumbered gainers 58 to 21. The Hang Seng TECH Index lost 2.4% on the day, while the Mainland Properties Index fell 0.6%.

Leading the upside was shipping line Orient Overseas International, up 4.4%, while EV-maker Li Auto declined 7.4%.

On the mainland, the Shanghai Composite fell 0.3% to 3,065.26.

On the other regional exchanges, the S. Korean KOSPI fell 1.6%; the Taiwan TWSE declined 3.8%; the Australian ASX 200 declined 1%; the Singapore Straits Times Index fell 0.3%, and the Thai Set declined 2%. In late trading in Mumbai, the Sensex bucked trends and was up 0.8%.

http://www.mtnewswires.com
Copyright © 2024 MT Newswires. All rights reserved. MT Newswires does not provide investment advice. Unauthorized reproduction is strictly prohibited.