06:51 AM EDT, 10/28/2024 (MT Newswires) -- Asian stock markets were mixed on the high side Monday, after weekend elections concluded in Japan, and Beijing issued a soft industrial profits report.

Japanese Prime Minister Shigeru Ishiba's Liberal Democratic Party (LDP), and its coalition partner, the Komeito, lost their majority of the nation's powerful lower house, but Ishiba vowed to alter certain LDP policies to retain effective rule.

Shanghai and Tokyo trading floors finished in the green, while Hong Kong was flat. Other regional exchanges were mixed.

In Japan, the Nikkei 225 opened higher and finished up 1.8%, aided as a softer yen boosted export issues and solid earnings reports.

The benchmark Nikkei 225 rose 197 to 27, as gaining issues outnumbered losers 197 to 27.

Leading the upside was Chugai Pharmaceuticals, up 14.4% after reporting earnings, while camera-house Olympus fell 5.6% after its CEO resigned following allegations of illegal drug purchases.

In Hong Kong, the Hang Seng Index opened evenly, wobbled and finished essentially even, after a soft report from Beijing on mainland China industrial profits.

The broad gauge Hang Seng rose 9.21 to 20.599.36, as gaining issues outnumbered losers 44 to 35. The Hang Seng TECH Index gained 0.8% on the day, while the Mainland Properties Index rose 2.2%.

Leading the upside was property developer Longfor, gaining 4.8%, while Xinyi Solar declined 4.8%.

On the mainland, the Shanghai Composite rose 0.7% to 3,322.20.

In economic news, industrial profits in China declined 27.1% on year in September, reported the National Bureau of Statistics (NBS) on Sunday. Through the first three quarters of the year, industrial profits were off 3.5% on year.

On the other regional exchanges, the S. Korean KOSPI rose 1.1%; the Taiwan TWSE declined 0.6%; the Australian ASX 200 inclined 0.1%; the Singapore Straits Times Index fell 0.3%, and the Thai Set declined 0.3%. In late trading in Mumbai, the Sensex was up 0.8%.