Asia stocks mostly rise after Wall Street rally stalls; Tokyo Metro shares soar on debut
Pokemon game characters of Japanese video game manufacturer Nintendo are on display on a subway train car in Tokyo, Japan.
Hitoshi Yamada | NurPhoto | Getty Images
Asia-Pacific markets mostly rose Tuesday, breaking ranks with major Wall Street benchmarks, while Japanese subway operator Tokyo Metro’s stellar market debut boosted investor optimism.
Shares of Tokyo Metro soared as much as 47%, and were last trading up nearly 45%.
The company, one of Japan’s leading subway operators and the largest in Tokyo, raised 348.6 billion yen in its initial public offering, the largest IPO in Japan since 2018.
The IPO was reportedly 15 times oversubscribed and priced at the top end of its pricing band, offering shares at 1,200 yen apiece.
Singapore’s core consumer price index — which excludes private transport and accommodation — grew 2.8% in September from a year ago, higher than Reuters poll forecast of 2.7%. The overall consumer inflation rose 2% from the previous year, compared with the expected 1.9%.
Japan’s Nikkei 225 traded down 0.8% on Wednesday, but the broad-based Topix was down 0.42%.
South Korea’s Kospi climbed 1.18%, while the small-cap Kosdaq inched 0.45% higher.
Australia’s S&P/ASX 200 traded near the flatline.
Hong Kong’s Hang Seng index was jumped 1.67%, while mainland China’s CSI 300 was trading close to the flatline, up 0.57%.
Overnight in the U.S., the S&P 500 and the Dow Jones Industrial Average ended Tuesday marginally lower, both posting a second straight day of losses.
The S&P 500 ended the session lower by 0.05%, and it was the broad market index’s first back-to-back loss since early September.
The 30-stock Dow slid 0.02%, but the Nasdaq Composite rose 0.18%.
— CNBC’s Pia Singh and Samantha Subin contributed to this report.
