06:44 AM EDT, 07/01/2025 (MT Newswires) -- Asian stock markets churned on Tuesday, as investors weighed the global trade outlook and foreign exchange rates.

Shanghai gained, while Hong Kong and Tokyo finished in the red. Other regional exchanges were mixed on the upside.

In Japan, the Nikkei 225 opened lower after five-straight trading days of gains, drifted, and closed down 1.2% as traders weighed a stronger yen, and a perceived lack of progress on Japan-US trade negotiations.

The benchmark Nikkei 225 fell 501.06 to 39,986.33, as losing issues outnumbered gainers 151 to 72.

Leading the upside was Tokyo Electric Power, up 10% after the utility giant disclosed plans to build and operate energy-efficient data centers. Mobile-gaming outfit DeNA lost 4.8%.

In economic news, the Japan manufacturing purchasing managers index, or PMI, rose to 50.1 in June from 49.4 in May, thus striking above the 50-mark that separates growth from contraction, reported S&P Global.

In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing off 0.9% as traders edged away from tech and property shares.

The broad gauge Hang Seng fell 211.87 to 24,072.28 as losing issues outnumbered gainers 61 to 21. The Hang Seng TECH Index lost 0.7% on the day, while the Mainland Properties Index fell 0.9%.

Leading the upside was Xinyi Solar, gaining 4.2%, while Bank of China HK fell 5.7%.

On the mainland, the Shanghai Composite rose 0.4% to 3,457.75.

In economic news, the Caixin China manufacturing PMI rose to 50.4 in June, up from 48.3 in May, reported S&P Global.

On the other regional exchanges, the S. Korean KOSPI rose 0.6%; the Taiwan TWSE inclined 1.3%; the Australian ASX 200 was flat; the Singapore Straits Times Index rose 0.6%, and the Thai Set inclined 1.9%. In late trading in Mumbai, the Sensex was steady.

In other news, the seasonally adjusted India manufacturing PMI struck 58.4 in June, up from 57.6 in May, reported S&P Global.