06:48 AM EDT, 03/26/2024 (MT Newswires) -- Asian stock markets churned Tuesday, as traders gauged overnight sluggishness on Wall Street, weighed the Asian earnings season, and bought into Seoul tech issues.

Hong Kong gained, Shanghai edged up and Tokyo was flat. South Korea's KOSPI Index rose 0.7%, as memory chipmaker SK Hynix inclined 5.2% to an all-time record high, on prospective demand for its products from the AI sector.

In Japan, the Nikkei 225 opened evenly and finished essentially flat, as profit-taking selling was offset by buying of shares before the ex-dividend dates are struck.

The benchmark Nikkei 225 fell 16.09 to 40,398.03, as losing issues outnumbered gainers 113 to 108.

Leading the upside was heavy-machinery maker IHI, up 8.3%, while conglomerate Tokyu lost 8.6%.

In Hong Kong, the Hang Seng Index opened higher and finished up 0.9% as earnings reports encouraged investors.

The broad gauge Hang Seng rose 144.68 to 16,618.32, as gaining issues outnumbered losers 44 to 33. The Hang Seng TECH Index gained 1% on the day, while the Mainland Properties Index rose 0.7%.

Leading the upside was China Merchants Bank, up 4.3%, while auto-dealer chain Zhongsheng brought up the rear, falling 4.9%.

On the mainland, the Shanghai Composite rose 0.2% to 3,031.48.

On the other regional exchanges, the Taiwan TWSE inclined 0.3%; the Australian ASX 200 lost 0.4%; the Singapore Straits Times Index rose 1.1%, and the Thai Set added 0.4%. In late trading in Mumbai, the Sensex was off 0.5%.

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