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Japan’s Nikkei 225 jumps 2%; JD Logistics soars in Hong Kong debut

SINGAPORE — Stocks in Asia-Pacific rose in Friday trade, as investors reacted to the market debut of JD Logistics in Hong Kong.

Shares of JD Logistics opened at 46.05 Hong Kong dollars before surging to more than 18% from their issue price at one point .Some of those gains were later pared, though the stock still sat 10.75% higher than their issue price by Friday afternoon. Shares of Chinese e-commerce giant, however, dipped 0.14%.

The broader Hang Seng index in Hong Kong gained 0.63%.

In Japan, the Nikkei 225 jumped 2.12% while the Topix index advanced 1.87%. South Korea’s Kospi edged 0.91% higher.

Mainland Chinese markets saw more muted moves, with the Shanghai composite flat while the Shenzhen component rose 0.136%.

Elsewhere in Australia, the S&P/ASX 200 rose 1.18%.

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.75%.

Overnight on Wall Street, the Dow Jones Industrial Average jumped 141.59 points to close at 34,464.64. The S&P 500 edged 0.12% higher to 4,200.88 while the Nasdaq Composite ended the trading day stateside little changed at 13,736.28.

The moves on Wall Street came following the release of stronger-than-expected U.S. labor market data. Initial jobless claims fell to 406,000, the Labor Department reported Thursday. That was much lower than the 425,000 initial jobless claims expected by economists surveyed by Dow Jones.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.058 — above levels below 90 seen earlier in the week.

The Japanese yen traded at 109.83 per dollar, following its sharp weakening yesterday from levels below 109.2 against the greenback. The Australian dollar changed hands at $0.7745, still lower than levels above $0.777 seen earlier this week.

Oil prices were higher in the morning of Asia trading hours, with international benchmark Brent crude futures up 0.49% to $69.80 per barrel. U.S. crude futures advanced 0.51% to $67.19 per barrel.

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