06:43 AM EDT, 11/01/2024 (MT Newswires) -- Asian stock markets largely tracked lower Friday after overnight declines on Wall Street and in major global tech issues put traders on the back foot.

Shanghai and Tokyo finished in the red, as did most other regional exchanges, although Hong Kong notched a gain on a positive property-sector report.

In Japan, the Nikkei 225 opened sharply lower and drifted, finishing off 2.6% as tech issues waned after soft earnings reports from US tech giants Microsoft (MSFT) and Meta Platforms (META).

The benchmark Nikkei 225 fell 1,027.58 to 38,053.67, as losing issues outnumbered gainers 199 to 26.

Leading the upside was Mitsubishi Electric, up 14.2%, while semiconductor manufacturing equipment maker Lasertec fell 16.4%; both moves coming after the companies reported quarterly earnings.

In economic news, the Japan manufacturing purchasing managers index (PMI) fell to 49.2 in October from 49.7 in September, sinking further below the 50-marker that separates growth from contraction, said S&P Global, citing its monthly survey.

In Hong Kong, the Hang Seng Index opened higher and held ground, after a report from China Real Estate Information that sales by mainland China's 22 key property developers rose 66% in October from September.

The broad gauge Hang Seng rose 189.10 to 20,506.43, as gaining issues outnumbered losers 55 to 25. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index rose 2.4%.

Leading the upside was gaming house Sands China, gaining 5.4%, while Li Auto declined 9.6%.

On the mainland, the Shanghai Composite fell 0.2% to 3,272.01.

In economic news, the seasonally adjusted Caixin China purchasing managers index rose to 50.3 in October from 49.3 in September, reported S&P Global.

On the other regional exchanges, the S. Korean KOSPI fell 0.5%; the Taiwan TWSE declined 0.2%; the Australian ASX 200 declined 0.5%; the Singapore Straits Times Index fell 0.1%, and the Thai Set declined 0.1%. In late trading in Mumbai, the Sensex was down 0.7%.

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