05:44 AM EST, 02/04/2026 (MT Newswires) -- Asian stock markets turned in a choppy Wednesday, as tech shares struggled but property stocks gained, and export issues fared better on a stronger US dollar.

Hong Kong finished flat, Shanghai rose and Tokyo lagged, although most other regional exchanges gained ground.

In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.8% as traders booked profits after the record-high close on Tuesday, and awaited the Sunday national elections. Export issues firmed, as the yen depreciated against the greenback.

The benchmark Nikkei 225 fell 427,30 to 54,293.36, although gaining issues outnumbered losers 163 to 61.

Leading the upside was ball-bearing maker NSK, up 9.2%, while electronics-components maker Ibiden declined 14.2%, with both moves following earnings results.

In economic news, Japan's service-sector purchasing managers index (PMI) rose to 53.7 in January from 51.6 in December, rising further above the 50-mark that separates growth from contraction, reported S&P Global.

In Hong Kong, the Hang Seng Index opened evenly and closed the same way, as tech stocks slumped after overnight declines by US peers, but property issues rose on reports Beijing may not apply heavier taxes to the sector.

The broad gauge Hang Seng rose 12.55 to 26,847.32, as gaining issues outnumbered losers 64 to 23. The Hang Seng TECH Index lost 1.8% on the day, while the Mainland Properties Index rose 2.9%.

Leading the upside was Xinyi Glass, gaining 5.9%, while Trip.com declined 6.2%.

On the mainland, the Shanghai Composite rose 0.9% to 4,102.20.

In economic news, China's service-sector PMI struck 52.3 in January, up from 52.0 in December, reported S&P Global.

On the other regional exchanges, the S. Korean KOSPI rose 1.6%; the Taiwan TWSE inclined 0.3%; the Australian ASX 200 inclined 0.8%; the Singapore Straits Times Index rose 0.4%, and the Thai Set inclined 0.8%. In late trading in Mumbai, the Sensex was flat.

The MSCI All Country Asia Pacific Index fell 0.1% on the day.

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