05:44 AM EST, 12/04/2024 (MT Newswires) -- Asian stock markets were mixed and muted Wednesday as traders awaited fresh catalysts and mulled apparently calming political turmoil in Seoul.

South Korea's president early Wednesday lifted the martial law he imposed only hours earlier after citing national-security concerns, evidently bending to political pressure even as uniformed soldiers encircled the parliament.

Hong Kong finished flat, Shanghai edged lower and Tokyo inched higher, while other regional exchanges were similarly mixed.

In Japan, the Nikkei 225 opened higher, wobbled, but finished up 0.1% as a softer yen aided exports issues, and retailers rose on strong sales reports.

The benchmark Nikkei 225 rose 27.53 to 39,276.39 although losing issues outnumbered gainers 166 to 56.

Leading the upside was retailer Ryohin Keikaku, gaining 7.1% after reporting monthly sales. Financial house Resona declined 4.3%.

In economic news, Japan's service purchasing managers index, or PMI, rose to 50.5 in November, up from 49.7 in October, and swinging above the 50-marker that separates growth from contraction, reported S&P Global.

In Hong Kong, the broad gauge Hang Seng Index opened evenly and was little changed in trading, slipping 3.86 to 19,742.46, although losing issues outnumbered gainers 48 to 29. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index fell 0.6%.

Leading the upside was China Shenhua Energy, gaining 4.1%, while knitwear-maker Shenzhou International fell 3%.

On the mainland, the Shanghai Composite fell 0.4% to 3,364.65.

In economic news, the seasonally adjusted headline Caixin China PMI logged at 51.5 in November, down from 52.0 in October, reported S&P Global.

On the other regional exchanges, the S. Korean KOSPI fell 1.4%; the Taiwan TWSE inclined 1%; the Australian ASX 200 declined 0.4%; the Singapore Straits Times Index rose 0.4%, and the Thai Set declined 0.3%. In late trading in Mumbai, the Sensex was up 0.1%.

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