Asian Equities Traded in the US as American Depositary Receipts Drop in Thursday Trading

MT Newswires Live07-25

Asian equities traded in the US as American depositary receipts were moving lower Thursday morning, falling 0.5% to 1,923.29 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by ecommerce company JD.com (JD) and polysilicon manufacturer Daqo New Energy (DQ), which rose 4.3% and 3.9% respectively. They were followed by consumer financial services firm Qudian (QD) and electric vehicle maker NIO (NIO), which were up 2.7% and 2.3% respectively.

The decliners from North Asia were led by property technology company Fangdd Network Group (DUO) and media company Phoenix New Media (FENG), which fell 18.2% and 5.2% respectively. They were followed by online game developer The9 (NCTY) and mobile app developer Cheetah Mobile (CMCM), which dropped 5% and 4.9% respectively.

From South Asia, the gainers were led by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which increased 2.6% and 1.6% respectively. They were followed by business process management company WNS (WNS) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 1.8% and 1.1% respectively.

The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which lost 1.8% and 1.2% respectively. They were followed by financial services company ICICI Bank (IBN) and telecommunications operator PLDT (PHI), which were down 0.7% and 0.2% respectively.

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