Asia stocks trade higher; Alibaba makes blockbuster debut in Hong Kong - CNBC

Stocks in Asia traded higher in Tuesday morning trade following record finishes overnight on Wall Street. Hong Kong-listed shares of Chinese tech behemoth Alibaba also popped on their debut, becoming the world's largest listing so far in 2019.

Hong Kong's Hang Seng index gained 0.67% in early trade, with shares of Alibaba surging around 7%.

Mainland Chinese shares also saw gains, with the Shanghai composite up more than 0.2% and Shenzhen component rising 0.68%. The Shenzhen composite added 0.513%.

In Japan, the Nikkei 225 added 1.09% in morning trade while the Topix index gained 0.82%. South Korea's Kospi edged 0.69% higher.

Meanwhile, shares in Australia gained in morning trade as the S&P/ASX 200 advanced about 1%. Shares of Westpac jumped more than 1.5% after the firm announced the resignation of its CEO and early retirement of its chairman. Shares of the lender have seen strong movements in recent days as the company is rocked by a money-laundering scandal.

Overall, the MSCI Asia ex-Japan index traded 0.64% higher.

In the U.S. overnight, the S&P 500 added 0.8% to close at 3,133.64 while the Nasdaq Composite gained 1.3% to end the trading day at 8,632.49. Both indexes also notched intraday records. The Dow Jones Industrial Average also saw a record close, gaining 190.85 points to 28,066.47.

Monday's gains on Wall Street came after the market's rally paused last week, with the S&P 500 snapping a six-week winning streak. The Dow fell for the first week in five while the Nasdaq ended a seven-week run.

Currencies

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.33 after seeing an earlier high above 98.35.

The Japanese yen traded at 109.16 per dollar after weakening from levels about 108.9 yesterday. The Australian dollar changed hands at $0.6785 after slipping from highs above $0.679 in the previous session.

What's on tap:

• Singapore: Industrial production data for October at 1:00 p.m. HK/SIN

— CNBC's Fred Imbert contributed to this report.

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Asia stocks trade higher; Alibaba makes blockbuster debut in Hong Kong - CNBC
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