06:43 AM EDT, 05/30/2025 (MT Newswires) -- Asian stock markets fell back Friday after a US federal court on Thursday allowed import tariffs imposed by US President Donald Trump to remain in effect, temporarily blocking a US Court of International Trade ruling against the levies.

Hong Kong, Shanghai and Tokyo finished in the red, as did most other regional exchanges. Taiwan trading floors were closed on holiday.

In Japan, the Nikkei 225 opened lower on the uncertain tariff news and could not recover, finishing off 1.2%. A stronger yen undercut export issues.

The benchmark Nikkei 225 fell 467.88 to 37,965.10, as losing issues outnumbered gainers 127 to 95.

Leading the upside was conglomerate Otsuka, gaining 6.8%, while while semiconductor-manufacturing equipment maker Disco declined 5.6%.

In economic news, retail sales in Japan in April rose 3.3% on year, and gained a seasonally adjusted 0.5% from March, reported the Ministry of Economy, Trade and Industry (METI).

Japan's industrial production fell a seasonally adjusted 0.9% in April from March, but rose 0.7% on year, added METI.

In other news, Tokyo's headline consumer price index (CPI) rose 3.4% in May from a year earlier, unchanged from April, reported Statistics Japan on Friday. The city's widely-quoted core CPI, that strips out certain foods, rose 3.6% on year in May, rising from the 3.4% on-year rate logged in April.

In Hong Kong, the Hang Seng Index opened lower and traded sideways, finishing off 1.2% on international trade news.

The broad gauge Hang Seng fell 283.61 to 23,289.77, as losing issues outnumbered gainers 60 to 21. The Hang Seng TECH Index lost 2.5% on the day, but the Mainland Properties Index rose 0.7%.

Leading the upside was CSPC Pharmaceutical, gaining 6.3% after reporting earnings, while BYD Electronic International declined 6%.

On the mainland, the Shanghai Composite fell 0.5% to 3,347.49.

On the other regional exchanges, the S. Korean KOSPI fell 0.8%; the Australian ASX 200 inclined 0.3%; the Singapore Straits Times Index fell 0.6%, and the Thai Set declined 1.3%. In late trading in Mumbai, the Sensex was down 0.2%.