SINGAPORE — Shares in Asia-Pacific were mixed in Tuesday trade, with Chinese search giant Baidu making its debut in Hong Kong.
Shares in Australia inched higher, with the S&P/ASX 200 rising 0.26%.
MSCI’s broadest index of Asia-Pacific shares outside Japan traded 0.15% higher.
In corporate developments, Baidu’s stock began trading in Hong Kong on Tuesday, with shares rising more than 1% in early trade from their issue price. The firm joins a long list of U.S.-listed Chinese tech companies that have done secondary offerings in Hong Kong, including Alibaba and JD.com.
Meanwhile, technology stocks in Asia-Pacific were mixed in Tuesday morning trade. Shares of Japanese conglomerate Softbank Group gained 0.17% while South Korean industry heavyweight Samsung Electronics advanced 0.12%. LG Electronics, on the other hand, fell 2.9%.
The moves in regional tech stocks came after their counterparts stateside rallied overnight amid declining bond yields, with the tech-heavy Nasdaq Composite jumping 1.23% to close at 13,377.54.
The moves stateside came as the 10-year Treasury yield declined 5 basis points to around 1.68% (1 basis point equals 0.01%), following a 14-month high touched last week. It last stood at 1.6964%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 91.829 — still above levels below 91.5 seen last week.
The Japanese yen traded at 108.84 per dollar, stronger than levels above 108.75 against the greenback seen last week. The Australian dollar changed hands at $0.7726, still off levels above $0.78 seen last week.
— CNBC’s Arjun Kharpal contributed to this report.
Correction: This article was updated to accurately reflect the level of the U.S. dollar index.
World News || Latest News || U.S. News
Help us to become independent in PANDEMIC COVID-19. Contribute to diligent Authors.