06:44 AM EDT, 03/15/2024 (MT Newswires) -- Asian stock markets generally fell back on Friday on overnight losses on Wall Street, central bank outlooks, and renewed wariness regarding tech-sector valuations.

Shanghai bucked trends to gain, but Hong Kong and Tokyo finished in the red, as did other regional exchanges.

In Japan, the Nikkei 225 opened lower and could not recover, finishing off 0.3% as traders awaited the Bank of Japan policy meeting that starts next week and a possible tightening in monetary policy. Tech issues fell back.

The benchmark Nikkei 225 fell 99.74 to 38,707.64, although gaining issues outnumbered losers 144 to 77.

Leading the upside was Tokyo Electric Power, aka Tepco, up 13%, on the outlook for the utility to re-start nuclear power plants, while semiconductor-maker Tokyo Electron fell 4.9%.

In Hong Kong, the Hang Seng Index opened lower and traded sideways, finishing off 1.4% as traders backed away from property and tech issues after Beijing's central bank held firm on a rate decision.

The broad gauge Hang Seng fell 240.77 to 16,720.89, as losing issues outnumbered gainers 68 to 11. The Hang Seng TECH Index lost 1.5% on the day, while the Mainland Properties Index fell 1.9%.

Leading the upside was Zijin Mining, gaining 2.6%, while Wuxi Biologics brought up the rear, falling 10.2%.

On the mainland, the Shanghai Composite rose 0.5% to 3,054.64.

In economic news, the People's Bank of China kept the rate on one-year medium-term lending facility at 2.5%, dashing hopes that an easing was in the cards given China's low inflation rate but property sector woes

On the other regional exchanges, the S. Korean KOSPI fell 1.9%; the Taiwan TWSE declined 1.3%; the Australian ASX 200 declined 0.6%; the Singapore Straits Times Index fell 0.4%, and the Thai Set declined 0.6%. In late trading in Mumbai, the Sensex was down 0.6%.