In Tokyo, Japan, iconic Pokémon characters from Nintendo are showcased on a subway train, courtesy of a collaboration with Tokyo Metro. This exhibit has coincided with Tokyo Metro’s impressive market debut, bolstering investor confidence. The company’s shares surged by up to 47% and were last reported at a 45% increase. The Tokyo subway operator, the largest in the city, raised 348.6 billion yen in what is Japan’s largest initial public offering (IPO) since 2018. The IPO, oversubscribed 15 times, priced shares at the top of the range at 1,200 yen each.
Meanwhile, in the Asia-Pacific markets, there were varied performances following developments on Wall Street. Japan’s Nikkei 225 declined by 0.8%, and the Topix fell by 0.42%. In contrast, the South Korean Kospi rose by 1.18%, and the Kosdaq increased by 0.45%. Over in Australia, the S&P/ASX 200 hovered near the flatline. Hong Kong’s Hang Seng index jumped 1.67%, while mainland China’s CSI 300 edged up 0.57%.
Economic reports from Asia highlighted Singapore’s September inflation figures, which came in at 1.9%—the slowest pace of growth since March 2021, per a Reuters survey of economists. The core consumer price index, excluding private transport and accommodation, rose 2.8% from the previous year, slightly above forecasts. Overall consumer inflation clocked in at 2% year-over-year, compared to the expected 1.9%.
In the U.S., the S&P 500 and the Dow Jones Industrial Average ended Tuesday with marginal losses, marking a second consecutive day of declines. The S&P 500 dipped slightly by 0.05%, while the Dow slid by 0.02%. Conversely, the Nasdaq Composite managed a slight gain of 0.18%. This summary incorporates contributions from CNBC’s Pia Singh and Samantha Subin.
Original Story https://www.cnbc.com/2024/10/23/asia-markets-live-tokyo-metro-ipo-singapore-cpi.html
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