Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Friday Trading

Asian equities traded in the US as American depositary receipts were trending sharply higher Friday morning, rising 1.07% to 1,969.10 on the S&P Asia 50 ADR Index.

With the gain, the index is poised to close out the week more than 2.2% higher.

From North Asia, the gainers were led by brand platform 36Kr (KRKR), which rose 4.5%, followed by financial services company Mitsubishi UFJ Financial Group (MUFG) and online education platform 51Talk Online Education Group (COE), which increased 4.3% and 5% respectively. Online game developer The9 (NCTY) was up 3% respectively.

The decliners from North Asia were led by diagnostic imaging centers company Concord Medical Services (CCM) and electric vehicle maker NIO (NIO), which fell 2.7% and 2.8% respectively. They were followed by solar panel maker JinkoSolar (JKS) and wealth management firm Noah (NOAH), which dropped 2.1% and 1.3% respectively.

From South Asia, the gainers were led by biotech firm ASLAN Pharmaceuticals (ASLN) and telecommunications operator Telekomunikasi Indonesia (TLK), which climbed 4.9% and 1.6% respectively. They were followed by business process management company WNS (WNS) and telecommunications operator PLDT (PHI), which increased 1.6% and 1.5% respectively.

The decliners from South Asia were led by tech conglomerate Sea (SE) and financial services company HDFC Bank (HDB), which lost 3.3% and 1.1% respectively. They were followed by financial services company ICICI Bank (IBN) and IT firm Infosys (INFY), which were off 0.6% and 0.1% respectively.