06:37 AM EDT, 07/08/2024 (MT Newswires) -- Asian stock markets wobbled Monday, as China-Europe tensions and caution in Japan undercut major indexes.

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

In Japan, the Nikkei 225 opened evenly, waffled, but finished off 0.3% as traders booked profits in a market trading near all-time highs.

The benchmark Nikkei 225 fell 131.67 to 40,780.70, as losing issues outnumbered gainers 171 to 53.

Leading the upside was materials-and-electronics producer Taiyo Yuden, up 2.9%, while shipping line Kawasaki Kisen Kaisha lost 4.5%

In economic news, the base wages of Japanese workers rose 2.5% in May, the largest annual increase in 31 years, although still not enough to compensate for higher prices, according to figures released by the Ministry of Health Labor and Welfare on Monday.

In Hong Kong, the Hang Seng Index opened lower and sank to close, finishing off 1.6% as traders eyed a brewing trade war between Europe and China.

The broad gauge Hang Seng fell 275.55 to 17,524.06, as losing issues outnumbered gainers 66 to 14. The Hang Seng TECH Index lost 0.8% on the day, while the Mainland Properties Index fell 2%.

Leading the upside was auto-dealer Zhongsheng, gaining 3%, while shipping line Orient Overseas International brought up the rear, falling 6.5%.

On the mainland, the Shanghai Composite fell 0.9% to 2,922.49.

In other news, mainland China's commerce ministry said it will next week hold an anti-dumping investigation of imports of brandy from Europe, reported the South China Morning Post. The ministry's investigation follows on proposed higher European tariffs on China auto imports.

On the other regional exchanges, the S. Korean KOSPI fell 0.2%; the Taiwan TWSE inclined 1.4%; the Australian ASX 200 declined 0.8%; the Singapore Straits Times Index fell 0.2%, and the Thai Set inclined 0.8%. In late trading in Mumbai, the Sensex was flat.