Asia Mostly Higher as U.S. Stocks Slip

Shares in the Asia-Pacific were mostly higher on Thursday after Wall Street’s two-day rally fizzled and OPEC+ agreed to cut two million barrels per day to shore up prices. Oil futures were slightly up during Asia’s session.

The Nikkei 225 gained another 128.32 points, or 0.5%, to 27,120.32.

In Hong Kong, the Hang Seng lost 75.82 points, or 0.4%, to 18,012.15.

Electric vehicle battery maker China Aviation Lithium Battery (CALB) traded flat in its debut session after raising 9.86 billion Hong Kong dollars ($1.26 billion U.S.) in its initial public offering, according to a filing.

The offer price was 38 Hong Kong dollars ($4.84) per share.
Shares allocated to retail investors in Hong Kong were undersubscribed, with only 21% purchased — representing 1% of the entire offering.

Leapmotor and Onewo, which fell in their trading debuts last week, were also undersubscribed.

In other markets

Markets in mainland China were still closed for holiday.

In Singapore, the Straits Times Index dipped 1.67 points, or 0.1%, to 3,151.56.

In Taiwan, the Taiex picked up 90.62 points, or 0.7%, to 13,892.05

In Australia, the ASX 200 inched up 1.84 points to 6,817.52.

In New Zealand, the NZX 50 dropped 54.77 points, or 0.5%, to 11,125.24.