Asia-Pacific markets trade mixed; ZTO Express listing in Hong Kong ahead

SINGAPORE — Shares in Asia-Pacific traded mixed in Tuesday morning trade, as investors await the Hong Kong debut of logistics firm ZTO Express

South Korean stocks led gains among the region’s markets as the Kospi rose about 1%, with shares of LG Chem jumping more than 3%.

In Japan, the Nikkei 225 shed 0.56% while the Topix index slipped 0.89%. The S&P/ASX 200 in Australia added 0.38%.

Overall, the MSCI Asia ex-Japan index traded 0.28% higher.

On the corporate news front, investors will watch out for ZTO Express shares, which are set to go public in Hong Kong on Tuesday at an offer price of 218 Hong Kong dollars ($28.13) per share. The firm will be the latest U.S.-listed Chinese company to debut in the city.

Meanwhile, shares of Taiwanese Apple suppliers Hon Hai Precision Industry (also known as Foxconn), Wistron and Pegatron will be watched following a Reuters report that the firms plan to invest nearly $900 million in India in the next five years as part of a new production-linked incentive scheme. 

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.153 following last week’s gains from levels below 93.0.

The Japanese yen traded at 105.39 per dollar after touching levels around 105.6 yesterday. The Australian dollar changed hands at $0.7091 following levels below $0.705 seen yesterday.

Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures below the flatline at $42.42 per barrel. U.S. crude futures shed 0.1% to $40.56 per barrel. 

What’s on tap:

  • Hong Kong: ZTO Express shares debut in the city at 9:30 a.m. HK/SIN

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