07:17 AM EDT, 10/17/2024 (MT Newswires) -- Asian stock markets largely lost ground Thursday, after Beijing's stimulus plans met a tepid reception, and Japan's trade figures underwhelmed traders.

Hong Kong, Shanghai, and Tokyo finished in the red, as did most other regional exchanges.

In Japan, the Nikkei 225 opened evenly but trailed lower, finishing off 0.7% on tech-sector concerns and after a weak international trade report.

The benchmark Nikkei 225 fell 269.11 to 38,911.19, as losing issues outnumbered gainers 127 to 96.

Leading the upside was Taiheiyo Cement, up 5.6% on stock repurchase plan, while electrical-equipment maker Fujikura declined 4.9%.

In economic news, Japan's exports in September fell 1.7% from a year earlier, while imports rose 2.1%, reported the Ministry of Finance. Japan's exports to China fell by 7.3% year on year, in the month.

In Hong Kong, the Hang Seng Index opened higher but closed down 1% after traders were disappointed by Beijing's much-anticipated outline to revive the nation's struggling property markets.

The broad gauge Hang Seng fell 207.75 to 20,079.10 as losing issues outnumbered gainers 65 to 12. The Hang Seng TECH Index lost 1.2% on the day, while the Mainland Properties Index tumbled 6.7%.

Leading the upside was Hansoh Pharmaceutical, gaining 3.5%, while property developer Longfor declined 13.8%.

On the mainland, the Shanghai Composite fell 1.1% to 3,169.38.

Beijing officials delivered an awaited joint-ministry program on China housing markets, but equities markets sagged on the perception the plans were incremental. Among other measures, China's Minister of Housing said programs to support certain projects will grow to 4 trillion yuan from the 2.23 trillion yuan already deployed.

The Beijing plans "fell short of investors' expectations," reported the South China Morning Post.

On the other regional exchanges, the S. Korean KOSPI was flat, the Taiwan TWSE inclined 0.2%, the Australian ASX 200 inclined 0.9%, the Singapore Straits Times Index rose 1%, and the Thai Set inclined 0.7%. In late trading in Mumbai, the Sensex was down 0.6%.