05:48 AM EST, 02/05/2025 (MT Newswires) -- Asian stock markets churned Wednesday on evolving China-US trade tensions and after tempered earnings-reports overnight from US-based tech titans Alphabet (GOOG, GOOGL) and Advanced Micro Devices (AMD).

Traders also weighed an announcement by the US Postal Service that it was was suspending inbound parcels from China and Hong Kong, pending resolution of certain tariff issues.

Hong Kong and Shanghai finished in the red, although Tokyo inched ahead. Other regional exchanges were mixed, but with Seoul and Taiwan hitting the upside.

In Japan, the Nikkei 225 opened higher but waned, and finished up only 0.1% as a firming yen undercut export issues.

The benchmark Nikkei 225 rose 33.11 to 38,831.48, although losing issues outnumbered gainers 124 to 98.

Leading the upside was video-game maker Bandai Namco, up 13.7%, while Yokogama Electric declined 7.1%, with both moves following earnings reports.

In economic news, real wages in December in Japan rose 0.6% on year, although real wages declined for the full year 2024, off 0.2% from 2023, reported the Ministry of Health, Labor and Welfare.

In other news, the Japan services purchasing managers index (PMI) rose to 53.0 in January, up from 50.9 in December 2024, and rising further above the 50-marker that separates growth from contraction, reported S&P Global, citing its monthly survey.

The nation's composite PMI, a combination of the services and manufacturing sectors, rose to 51.1 in January, up from 50.5.

In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing off 0.9% as traders weighed Beijing-Washington tensions and the earnings season.

The broad gauge Hang Seng fell 192.87 to 20,597.09, as losing issues outnumbered gainers 67 to 15. The Hang Seng TECH Index lost 1% on the day, while the Mainland Properties Index fell 1.4%.

Leading the upside was computer-maker Lenovo, gaining 4%, while Nongfu Spring declined 6.9%.

On the mainland, the Shanghai Composite reopened after New Year holidays and fell 0.7% to 3,229.49.

In economic news, the seasonally adjusted Caixin/S&P Global China services purchasing managers index (PMI) posted at 51.0 in January, down from 52.2 in December, reported S&P Global.

China's January composite PMI logged at 51.1 in January, down from 51.4 in December.

On the other regional exchanges, the S. Korean KOSPI rose 1.1%; the Taiwan TWSE inclined 1.6%; the Australian ASX 200 inclined 0.5%; the Singapore Straits Times Index fell 0.2%, and the Thai Set declined 1.1%. In late trading in Mumbai, the Sensex was down 0.4%.

In other news, India's services purchasing managers index (PMI) posted at 56.5 in January, down from 59.3 in December, reported S&P Global.

India's January composite PMI logged at 57.7 in January, down from 59.2 in December.