ZTO Express jumps in Hong Kong debut; Asia-Pacific markets trade mixed as Covid-19 deaths top 1 million

SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday trade, as logistics firm ZTO Express soared in its Hong Kong debut. 

Shares of logistics provider ZTO Express surged in the opening minutes of the debut in Hong Kong on Tuesday, jumping about 10% from the offer price of 218 Hong Kong dollars ($28.13) per share. The stock later pared some gains but was still more than 9% higher by the afternoon. The firm is the latest U.S.-listed Chinese company to debut in the city.

Meanwhile, the Hang Seng index in Hong Kong dipped 0.25%. Mainland Chinese stocks were also higher, with the Shanghai composite up 0.52% while the Shenzhen component added 1.188%.

In South Korea, the Kospi rose 0.99%. Australia’s S&P/ASX 200 was fractionally higher.

Over in Japan, the Nikkei 225 recovered from its earlier slip to edge 0.14% higher while the Topix index was 0.28% lower.

Overall, the MSCI Asia ex-Japan index edged 0.31% higher.

Meanwhile, the global death toll from the coronavirus pandemic crossed the 1 million mark, according to data compiled by Johns Hopkins University. About half of the world’s Covid-19 fatalities were reported in just four countries — the U.S., Brazil, India and Mexico, according to Hopkins data.

Currencies and oil

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.206 following last week’s gains from levels below 93.0.

The Japanese yen traded at 105.49 per dollar after touching levels around 105.6 yesterday. The Australian dollar changed hands at $0.7084 following levels below $0.705 seen yesterday.

Oil prices were lower in the afternoon of Asian trading hours, with international benchmark Brent crude futures down about 0.4% to $42.25 per barrel. U.S. crude futures shed 0.47% to $40.41 per barrel.

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