06:50 AM EDT, 08/27/2024 (MT Newswires) -- Asian stock markets churned Tuesday on foreign exchange fluctuations and an industrial report from Beijing.

Trade and geopolitical tensions also dogged investors. On Monday, Canada slated a new 100% tariff on imported Chinese EVs, and a 25% tariff on China-manufactured steel and aluminum.

Despite headwinds, exchanges in Hong Kong and Tokyo finished in the green, although Shanghai lagged. Most other regional exchanges posted modest losses.

In Japan, the Nikkei 225 opened lower but rose to the close, finishing up 0.5% as a weaker yen boosted export issues.

The benchmark Nikkei 225 rose 178.40 to 38,288.62 as gaining issues outnumbered losers 171 to 52.

Leading the upside was machine-tools maker JTEKT, up 5.6% after reporting earnings, while semiconductor-equipment manufacturer Lasertec lost 4.3%.

In Hong Kong, the Hang Seng Index opened lower but finished up 0.4% on earnings reports, and an industrial profits bulletin from Beijing.

The broad gauge Hang Seng rose 75.94 to 17,874.67, as gaining issues outnumbered losers 62 to 19. The Hang Seng TECH Index lost 0.1% on the day, while the Mainland Properties Index fell 0.3%.

Leading the upside was Trip.com, gaining 9.1% after reporting earnings, while e-commerce colossus Alibaba brought up the rear, falling 4%.

On the mainland, the Shanghai Composite fell 0.2% to 2,848.73.

In economic news, industrial profits at larger industrial enterprises in mainland China rose 4.1% on year, reported the National Bureau of Statistics.

In June, industrial profits had risen 3.6% on year, added the NBS.

For the first seven months of the year, profits of industrial enterprises increased by 3.6% year-on-year, striking 4.10 trillion yuan.

On the other regional exchanges, the S. Korean KOSPI fell 0.3%; the Taiwan TWSE declined 0.3%; the Australian ASX 200 declined 0.2%; the Singapore Straits Times Index added 0.1%, and the Thai Set was steady. In late trading in Mumbai, the Sensex was even.