05:54 AM EST, 11/26/2024 (MT Newswires) -- Asian stock markets largely declined on Tuesday as US President-elect Donald Trump overnight again publicly discussed plans to raise tariffs on goods imported to the US.

Hong Kong, Shanghai and Tokyo finished in the red, as did most other regional exchanges.

In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.9%.

The benchmark Nikkei 225 fell 338.14 to 38,442.00 as losing issues outnumbered gainers 147 to 75.

Leading the upside was personal products house Kao, up 4%, while electrical equipment maker Fujikura declined 6.8%.

In economic news, the nation's Cabinet Office maintained its monthly view that the country's economy is "recovering moderately," but warned of the potential impact of policies on trade in the pending Trump Administration.

In Hong Kong, the Hang Seng Index opened lower, waffled and finished flat as traders weighed the international trade scene. Property stocks were weak.

The broad gauge Hang Seng rose 8.21 to 19,159.20 as losing issues outnumbered gainers 44 to 35. The Hang Seng TECH Index lost 0.3% on the day, while the Mainland Properties Index fell 0.9%.

Leading the upside was internet giant Baidu, gaining 4.2%, while knitwear maker Shenzhou International declined 4.4%.

On the mainland, the Shanghai Composite fell 0.1% to 3,259.76.

On the other regional exchanges, the S. Korean KOSPI fell 0.6%; the Taiwan TWSE declined 1.2%; the Australian ASX 200 declined 0.7%; the Singapore Straits Times Index fell 0.5%, and the Thai Set declined 0.4%. In late trading in Mumbai, the Sensex was down 0.1%.