Asian Markets: Metallurgical Corp. soars in Chinese IPO

Asian markets were mixed on Monday with many markets closed for the holidays. China's Shanghai Composite Index was up .2 percent to close at 2,967.

The debut of Metallurgical Corp of China on the Shanghai Stock Exchange generated lots of excitement. It is the world's second largest IPO this year, and will be listed in Hong Kong later this week, having raised as much as $5.12 billion. State-owned Metallurgical jumped as high as 38 percent during its first day of trading, ending the session up 28 percent with shares listed at 6.9 yuan.