Asian Equities Traded in the US as American Depositary Receipts Fall in Friday Trading; Ends Week 4% Lower

MT Newswires Live07-19

Asian equities traded in the US as American depositary receipts were moving sharply lower Friday morning, falling 1.07% to 1,965.93 on the S&P Asia 50 ADR Index. The index is poised to close out the week more than 4% lower.

From North Asia, the gainers were led by mobile healthcare app 111 (YI) and financial services company CNFinance (CNF), which rose 5.8% and 5.2%, respectively. They were followed by ad agency iClick Interactive Asia Group (ICLK) and mobile app developer Cheetah Mobile (CMCM), which increased 4.9% and 4.6% respectively.

The decliners from North Asia were led by media company Phoenix New Media (FENG) and automotive ecommerce platform TuanChe (TC), which fell 9.2% and 8.5%, respectively. They were followed by brand platform 36Kr (KRKR) and diagnostic imaging centers company Concord Medical Services (CCM), which dropped 7.1% and 4.4% respectively.

From South Asia, the lone gainer was financial services company ICICI Bank (IBN), which was up 0.20%.

The decliners from South Asia were led by biotech firm ASLAN Pharmaceuticals (ASLN), which fell 14%, followed by IT firms Sify Technologies (SIFY) and Wipro (WIT), which lost 11% each. They were followed by business process management company WNS (WNS), which was down 3.1%.

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