SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday afternoon 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. The firm is the latest U.S.-listed Chinese company to debut in the city.
Meanwhile, the Hang Seng index in Hong Kong dipped 0.34%. Mainland Chinese stocks were higher, with the Shanghai composite up 0.51% while the Shenzhen component added 1.168%.
In South Korea, the Kospi rose 1.02%. Australia’s S&P/ASX 200 was below the flatline.
Over in Japan, the Nikkei 225 advanced 0.44% while the Topix index rose 0.22%.
Overall, the MSCI Asia ex-Japan index edged 0.3% 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.
Japan telco watch
Shares of Japan’s Nippon Telegraph and Telephone (NTT) fell more than 2% in Tuesday afternoon trade following reports that the firm is considering a potential buyout of its wireless unit, NTT Docomo.
NTT Docomo said Tuesday that the matter is “scheduled to be submitted to a meeting of the board of directors held today.” Shares of NTT Domoco were untraded with a glut of buy orders, Reuters reported Tuesday.
For its part, NTT said in a statement: “While certain news media have reported that Nippon Telephone and Telegraph Corporation (the “Company”) will make NTT DOCOMO, INC. a wholly-owned subsidiary, there is no fact that the Company has decided at this time.”
“The Company will immediately make an announcement if the board of directors today makes a resolution which should be disclosed,” NTT said.
Currencies and oil
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.21 following last week’s gains from levels below 93.0.
The Japanese yen traded at 105.58 per dollar after touching an earlier high of 105.33 against the greenback. 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 around 0.4% to $42.26 per barrel. U.S. crude futures shed 0.57% to $40.37 per barrel.
Source: CNBC