07:27 AM EDT, 05/08/2024 (MT Newswires) -- Asian stock markets largely fell back Wednesday, as traders again backed away from property and tech stocks and weighed earnings-season results.

Hong Kong, Shanghai and Tokyo finished in the red, while other regional exchanges were mixed.

In Japan, the Nikkei 225 opened lower and declined to the close, finishing off 1.6% as tech shares retreated in resonance with overnight performance of US peers.

The benchmark Nikkei 225 fell 632.73 to 38,202.37, as losing stocks outnumbered gainers 195 to 26.

Leading the upside was engineering-and-software outfit Yokogawa Electric, up 8.7% after reporting earnings, while AGC (formerly Asahi Glass) fell 10%, also after reporting earnings.

In Hong Kong, the Hang Seng Index opened evenly but slipped in the afternoon, declining 0.9% as traders again backed away from property stocks.

The broad gauge Hang Seng fell 165.51 to 18,313.86, as losing issues outnumbered gainers 62 to 18. The Hang Seng TECH Index lost 1.3% on the day, while the Mainland Properties Index fell 4.1%.

Leading the upside was phone-maker Xiaomi, up 6.5%, while property developer Longfor fell 7.6%.

On the mainland, the Shanghai Composite declined 0.6% to 3,128.48.

On the other regional exchanges, the S. Korean KOSPI gained 0.4%; the Taiwan TWSE edged 0.2% higher; the Australian ASX 200 was up 0.1%; the Singapore Straits Times Index fell 1.1%, and the Thai Set declined 0.2%. In late trading in Mumbai, the Sensex was flat.