06:43 AM EDT, 03/31/2026 (MT Newswires) -- Asian stock markets again sank Tuesday as traders monitored Iran war news, and sought clarity on a reopening of the Strait of Hormuz.

Shanghai and Tokyo finished in the red, while Hong Kong eked out a gain. Other regional exchanges were mixed on the downside, with South Korea's KOSPI index off 4.3%.

In Japan, the Nikkei 225 opened lower, waffled and finished off 1.6% as traders continued to monitor oil prices.

The benchmark Nikkei 225 fell 822.13 to 51,063.72, as losing issues outnumbered gainers 135 to 88.

Leading the upside was software-quality assurance outfit Shift, up 3.4%, while electronic-components maker Fujikura declined 9.2%.

In economic news, Japan's index of industrial production declined by a seasonally adjusted 2.3% in February from January, though it still edged up 0.3% on year, reported the Ministry of Economy, Trade and Industry (METI).

Japan's unemployment rate in February fell to 2.6% from 2.7% in January, reported the Ministry of Internal Affairs and Communications.

Tokyo's widely-quoted consumer price index-core (CPI-core), that strips out certain fresh food bills, rose 1.7% in March, easing from a 1.8% on-year gain in February, reported the Statistics Bureau.

In Hong Kong, the Hang Seng Index inched higher, closing up 0.2% as traders looked for values after recent sell-offs.

The broad gauge Hang Seng rose 37.35 to 24,788.14, as gaining issues outnumbered losers 47 to 42. The Hang Seng TECH Index lost 0.9% on the day, while the Mainland Properties Index rose 0.1%.

Leading the upside was Hansoh Pharmaceutical, gaining 7.3%, while BYD Electronic declined 5.2%.

On the mainland, the Shanghai Composite fell 0.8% to 3,891.86.

In economic news, China's official manufacturing purchasing managers index (PMI) swung to 50.4 in March from 49.0 in February, striking above the 50-mark that separates growth from contraction, reported the National Bureau of Statistics.

On the other regional exchanges, the Taiwan TWSE declined 2.5%; the Australian ASX 200 inclined 0.3%; the Singapore Straits Times Index fell 0.2%, and the Thai Set declined 0.1%. Exchanges in Mumbai were closed on holiday.

The MSCI All Country Asia Pacific Index fell 1.4% on the day.