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

  • 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.
  • 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. 

SINGAPORE — Shares in Asia-Pacific were set for a mixed start, as investors await the Hong Kong debut of logistics firm ZTO Express. 

Futures pointed to a lower open for stocks in Japan. The Nikkei futures contract was at 23,485 while its counterpart in Osaka was at 23,380. That compared against the Nikkei 225's last close at 23,511.62.

Shares in Australia, on the other hand, looked poised to rise. The SPI futures contract was at 5,982.0, as compared to the S&P/ASX 200's last close at 5,952.30.

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. 

Overnight on Wall Street, the Dow Jones Industrial Average closed 410.10 points higher, or 1.5%, at 27,584.06. The S&P 500 added 1.6% to end its trading day at 3,351.60 and the Nasdaq Composite rose 1.9% to close at 11,117.53.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 94.278 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 $0.7083 following levels below $0.705 seen yesterday.

What's on tap:

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

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