HONG KONG, May 9 (IFR) - Asian credits traded marginally tighter on Tuesday while the performance of new issues were mixed.

Investment-grade credits, in general, traded 1bp-2bp tighter.

Oil names saw some support on expectations OPEC supply cuts will be extended, while bonds of Chinese leasing companies were also actively traded, according to a Hong Kong-based IG trader.

The iTraxx Asia investment-grade index tightened by less than 1bp and was indicated at 89.3bp/90.8bp.

South Korean lender Woori Bank's newly priced US$500m 5.25% perpetual non-call five Additional Tier 1, which priced a day before the country's presidential election, traded up to a bid of 100.4 in late afternoon.

"Moon Jae-in is widely expected to win the presidency and I didn't see any impact on Korea credits," the trader said.

The newly priced two-tranche floaters from Bank of Communications' Hong Kong branch also traded well.

The US$700m three-year traded 1bp tighter while the US$300m five-year notes traded 3bp-4bp tighter from reoffer level of three-month Libor plus 78bp and 88bp respectively.

Indonesian electricity company Perusahaan Listrik Negara's US$2bn dual-trancher, however, traded mixed.

Its US$1.5bn 4.125% 10-year notes were under water and trading with a cash price of 98.60, from reoffer of 98.890. Its US$500m 5.25% 30-year notes traded up with cash price of 99.35 versus reoffer of 98.514.

The high-yield segment was also firm today with flows varied by name and sector. But in general, single B Chinese property names saw buying interest from private banks, according to a high-yield trader.

Though, Chinese dairy producer Reward's 7.25% 2020s were traded down to bid at 101.109, from 101.123 late yesterday, after Moody's changed its B1 corporate family rating outlook to negative from stable.

(Reporting by Carol Chan; Editing by Vincent Baby)