Asia Pacific Stocks Higher; Baidu rises on Hong Kong debut


SINGAPORE – Asia-Pacific stocks were mixed in trading Tuesday, with Chinese search giant Baidu making its debut in Hong Kong.

In Japan, the Nikkei 225 rose 0.53% while the Topix index gained 0.33%. South Korea’s Kospi slipped slightly.

Shares in mainland China fell while the Shanghai composite lost 0.21% while the Shenzhen component fell 0.287%. Hong Kong’s Hang Seng Index was little changed.

Australian shares rose slowly, with the S & P / ASX 200 rising 0.26%.

MSCI’s broader Asia-Pacific equity index outside of Japan traded 0.15% higher.

In corporate developments, Baidu shares began trading in Hong Kong on Tuesday, and the shares rose more than 1% in the first trades from their issue price. The firm joins a long list of US-listed Chinese tech companies that have made secondary offerings in Hong Kong, including Alibaba and JD.com.

Tech Stock Watch

Meanwhile, technology stocks in Asia-Pacific were mixed in trading Tuesday morning. Shares of Japanese conglomerate Softbank Group rose 0.17%, while South Korean industry heavyweight Samsung Electronics advanced 0.12%. LG Electronics, meanwhile, fell 2.9%.

In Hong Kong, Tencent shares were up 0.47%, while Alibaba was down 0.26%.

The moves in regional tech stocks came after their U.S. counterparts rallied overnight amid falling bond yields, with the high-tech Nasdaq Composite rising 1.23% to fall. close at 13,377.54.

Other major indices on Wall Street also rose on the day: the S&P 500 advanced 0.7% to 3,940.59 while the Dow Jones Industrial Average rose 103.23 points to 32,731.20.

The movements in the United States occurred when the 10-year Treasury yield fell 5 basis points to around 1.68% (1 basis point equals 0.01%), after a 14-month high hit the last week. The last time it was 1.6964%.

Coins and oil

The US dollar index, which tracks the dollar against a basket of its peers, was at 91.829, still above the levels below 91.5 seen last week.

The Japanese yen was trading at 108.84 per dollar, stronger than the levels above 108.75 against the dollar seen last week. The Australian dollar changed hands at $ 0.7726, still out of the levels above $ 0.78 seen last week.

Oil prices fell in the morning of Asian business hours, with international benchmark Brent crude futures falling 0.99% to $ 63.98 a barrel. US crude futures fell 0.96% to $ 60.97 a barrel.

– CNBC’s Arjun Kharpal contributed to this report.

Correction: This article has been updated to accurately reflect the level of the US Dollar Index.

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