06:01 AM EST, 11/29/2024 (MT Newswires) -- Asian stock markets were choppy on Friday, with China-exposed exchanges gaining on bargain-hunting, while Japan shares were challenged by foreign exchange movements.

Hong Kong and Shanghai finished in the green, while Tokyo lagged. Other regional exchanges were also choppy.

In Japan, the Nikkei 225 opened lower and could not recover, as a stronger yen undercut export issues. The yen appreciated against the US dollar after a higher-than-expected Tokyo inflation report boosted outlooks for a tighter Bank of Japan in the coming months.

The benchmark Nikkei 225 fell 141.03 to 38,208.03, as losing issues outnumbered gainers 150 to 73.

Leading the upside was Chiba Bank, gaining 4.2%, while Nissan Motor declined 4%.

In economic news, Tokyo's widely quoted core consumer price index, that excludes fresh food prices, rose 2.2% on year in November, faster than the 1.8% on-year rate logged in October, and above the Bank of Japan's 2% annual target.

In other economic news, Japan's unemployment rate in October touched 2.5%, up from 2.4% in September, as more seniors sought work, reported the Ministry of Internal Affairs and Communications.

Japan's industrial production in October rose 1.6% on-year, and gained a seasonally adjusted 3% from September, reported the Ministry of Economy, Trade and Industry or METI.

Retail sales in Japan grew by 1.6% on year in October, and by 0.1% from September, added the ministry.

In Hong Kong, the Hang Seng Index opened evenly and edged higher, finishing up 0.3% as some traders waded back into a market that lost ground through most of November.

The broad gauge Hang Seng rose 56.65 to 19,423.61, as gaining issues outnumbered losers 62 to 17. The Hang Seng TECH Index gained 1.1% on the day, while the Mainland Properties Index rose 1%.

Leading the upside was Xinyi Solar, gaining 4.6%, while New World Development fell 6% before trading was suspended after media reports its CEO would step down just two months after being appointed.

On the mainland, the Shanghai Composite rose 0.9% to 3,326.46.

On the other regional exchanges, the S. Korean KOSPI fell 2%; the Taiwan TWSE declined 0.2%; the Australian ASX 200 declined 0.1%; the Singapore Straits Times Index was flat, and the Thai Set was stable. In late trading in Mumbai, the Sensex was up 1%.

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