05:57 AM EST, 11/27/2024 (MT Newswires) -- Asian stock markets were choppy on Wednesday, with China-exposed exchanges gaining on possible improvements in the Sino manufacturing sector, while unfavorable foreign-exchange rates cramped Tokyo investors.

Other regional exchanges were also uneven, as possible trade tariffs in the pending US Trump Administration clouded outlooks.

In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.8% as a stronger yen undercut export issues.

The benchmark Nikkei 225 fell 307.03 to 38,134.97, as losing issues outnumbered gainers 178 to 47.

Leading the upside was Keisei Electric Railway, up 5%, while Mitsubishi Chemical declined 5.8%.

In Hong Kong, the Hang Seng Index opened evenly but staged an afternoon rally, finishing up 2.3% after a better-than-expected industrial profits report from Beijing.

The broad gauge Hang Seng rose 443.93 to 19,603.13, as gaining issues outnumbered losers 79 to two. The Hang Seng TECH Index gained 3.6% on the day, while the Mainland Properties Index rose 2.6%.

Leading the upside was online delivery service Meituan, gaining 7.2%, while CK Infrastructure declined 1%.

On the mainland, the Shanghai Composite rose 1.5% to 3,309.78.

In economic news, industrial profits at larger Chinese companies dropped a relatively light 10% in October on year, compared with a larger, 27% on-year slump in September, the National Bureau of Statistics reported.

On the other regional exchanges, the S. Korean KOSPI declined 0.7%; the Taiwan TWSE fell 1.5%; the Australian ASX 200 added 0.6%; the Singapore Straits Times Index slipped 0.1%, and the Thai Set lost 0.6%. In late trading in Mumbai, the Sensex was up 0.3%.

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