Pokemon, a game character from Japanese video game maker Nintendo, is on display on a Tokyo subway car.
Hitoshi Yamada | Nuru Photo | Getty Images
Asia-Pacific markets were mostly higher on Tuesday, breaking ground with major Wall Street benchmarks, while a strong market debut for Japanese subway operator Tokyo Metro boosted investor optimism.
Tokyo Metro’s stock price rose 45% in early trading.
The company, one of Japan’s leading subway operating companies and the largest in Tokyo, raised 348.6 billion yen in an initial public offering, making it Japan’s largest IPO since 2018.
The IPO was reportedly 15 times oversubscribed and at the high end of its price range, selling at 1,200 yen per share.
Economic data coming out of Asia includes Singapore’s September inflation rate, which is expected to rise 1.9%, the slowest rise since March 2021, according to a Reuters poll of economists.
On Wednesday, Japan’s Nikkei stock average remained just below the flat line, while the broader TOPIX rose 0.18%.
South Korea’s Kospi rose 0.15%, while the small-cap Kosdaq fell 1.16%.
Australia’s S&P/ASX 200 started the day up 0.13%.
Hong Kong’s Hang Seng Index rose slightly, but mainland China’s CSI300 index remained almost flat.
Overnight in the US, the S&P 500 and Dow Jones Industrial Average ended modestly lower on Tuesday, both marking their second consecutive day of declines.
The S&P 500 closed 0.05% lower, marking the first consecutive decline in the market-wide index since early September.
The Dow Jones Industrial Average fell 0.02%, while the Nasdaq Composite rose 0.18%.
—CNBC’s Pia Singh and Samantha Subin contributed to this report.
