06:41 AM EDT, 05/16/2025 (MT Newswires) -- Asian stock markets turned choppy on Friday, after a Chinese tech giant missed earnings expectations and as traders eyed foreign-exchange rates.

Hong Kong and Shanghai finished in the red, while Tokyo was flat. Other regional exchanges were muted but ended mostly higher.

In Japan, the Nikkei 225 finished flat as traders weighed solid earnings reports against a stronger yen that undercut export issues.

The benchmark Nikkei 225 fell 1.79 to 37,753.72, as gaining issues outnumbered losers 121 to 102.

Leading the upside was J Front Retailing, up 18.1% after reporting earnings. Internet and AI services company CyberAgent rose 15.1%, striking a fresh 52-week high, also after reporting earnings.

In economic news, Japan's real Q1 gross domestic product (GDP) shrank by 0.2%, or at a 0.7% annual rate, reported the Cabinet Office on Friday.

On the year, Japan's Q1 real GDP was up 1.7% from the low base of 2024's Q1.

In Hong Kong, the Hang Seng Index ended down 0.5% after a quarterly earnings miss from e-commerce giant Alibaba.

The broad gauge Hang Seng fell 108.11 to 23,345.05, as losing issues outnumbered gainers 48 to 32. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index fell 0.8%.

Leading the upside was internet services outfit NetEase, gaining 13% after reporting earnings, while index-heavyweight Alibaba declined 4.3%, leading the downside.

On the mainland, the Shanghai Composite fell 0.4% to 3,367.46

On the other regional exchanges, the S. Korean KOSPI rose 0.2%; the Taiwan TWSE rose 0.5%; the Australian ASX 200 advanced 0.6%; the Singapore Straits Times Index rose 0.2%, and the Thai Set gained 0.1%. In late trading in Mumbai, the Sensex was down 0.3%.