07:03 AM EDT, 03/19/2024 (MT Newswires) -- Asian stock markets were choppy Tuesday in the earnings season, and after the Bank of Japan modestly raised rates. Traders also awaited the US Federal Reserve rate decision due on Wednesday.

Hong Kong and Shanghai lost ground, while Tokyo finished in the green. Other regional exchanges were uneven.

In Japan, the Nikkei 225 opened lower but rose to the close, finishing up 0.7% after the Bank of Japan unveiled monetary policy adjustments, but not an end to a generally accommodative stance.

The benchmark Nikkei 225 rose 263.16 to 40,003.60, as gaining issues outnumbered losers 179 to 44.

Leading the upside was Sumitomo Realty & Development, up 8.3%, while Pacific Metals fell 6.5%.

The Tokyo Stock Exchange REIT Index rose 3.2% on the day.

In economic news, the Bank of Japan announced an end to its short-term interest rate policy of 0% to negative 0.1%, and raised the rate to 0% to positive 0.1%. The central bank will still buy Japanese government bonds, but will no longer cap the rate on 10-year JGBs at 1%.

Despite the moderately tighter policy announced by the Bank of Japan, the nation's currency, the yen, traded lower against the Us dollar, topping 150 to the greenback.

In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 1.2% as traders weighed the earnings season.

The broad gauge Hang Seng fell 207.64 to 16,529.48, as losing issues outnumbered gainers 67 to 12. The Hang Seng TECH Index lost 1.8% on the day, while the Mainland Properties Index fell 2.8%.

Leading the upside was Xinyi Solar, gaining 2.4%, while Li Auto brought up the rear, falling 8%.

On the mainland, the Shanghai Composite fell 0.7% to 3,062.76.

On the other regional exchanges, the S. Korean KOSPI fell 1.1%; the Taiwan TWSE declined 0.1%; the Australian ASX 200 inclined 0.4%; the Singapore Straits Times Index was flat, and the Thai Set declined 0.3%. In late trading in Mumbai, the Sensex was down 1%.

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