06:48 AM EDT, 04/10/2024 (MT Newswires) -- Asian stock markets were choppy on Wednesday after a credit-rating agency lowered its outlook on mainland China, and as traders awaited the pending US inflation report.

Hong Kong gained, while Shanghai and Tokyo finished in the red. Other regional exchanges were uneven, but with Mumbai's Sensex gaining 0.5% to strike a fresh all-time high.

In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.5% as traders took to the sidelines ahead of the March consumer price index, or CPI, bulletin from Washington.

The benchmark Nikkei 225 fell 191.32 to 39,581.81, as losing issues outnumbered gainers 135 to 88.

Leading the upside was utility Tokyo Gas, up 5.1%, while heavy-equipment maker IHI lost 5.4%.

In economic news, Japan's producer price index, or PPI, rose 0.8% on year in March, and gained 0.2% from February, reported the Bank of Japan.

Separately, the Bank of Japan also reported nation's banks and other lenders held combined loans outstanding of 619.6 trillion yen in the first quarter, up 3.2% on year.

In Hong Kong, the Hang Seng Index opened higher and rose to the close, as traders favored tech issues and noted corporate buybacks.

The broad gauge Hang Seng rose 311.10 to 17,139.17, as gaining issues outnumbered losers 62 to 13. The Hang Seng TECH Index gained 2.1% on the day, while the Mainland Properties Index rose 0.8%.

Leading the upside was natural gas supplier ENN Energy, gaining 7.4%, while Semiconductor Manufacturing International fell 1.9%.

On the mainland, the Shanghai Composite fell 0.7% to 3,027.34.

In economic news, Fitch affirmed its A+ rating on mainland China, but lowered its outlook to "negative" from "stable." The credit-rating agency cited larger government deficits for the altered outlook.

On the other regional exchanges, the S. Korean KOSPI fell 0.5%; the Taiwan TWSE declined 0.2%; the Australian ASX 200 inclined 0.3%; the Singapore Straits Times Index rose 0.7%, and the Thai Set inclined 0.5%.

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