Asian Equities Traded in the US as American Depositary Receipts Higher Friday, Index Down 2% for Week

MT Newswires Live07-26

Asian equities traded in the US as American depositary receipts were higher Friday morning, rising 0.70% to 1,935.24 on the S&P Asia 50 ADR Index. Despite the gain, the index is still down more than 2% for the week.

From North Asia, the gainers were led by financial services company Shinhan Financial Group (SHG) and education company 17 Education & Technology Group (YQ), which climbed 6.6% and 5.5% respectively. They were followed by computer hardware maker Canaan (CAN), which rose 3.9%.

The decliners from North Asia were led by online education platform 51Talk Online Education Group (COE) and thin-film liquid display maker LG Display (LPL), which fell 7.6% and 4.4% respectively. They were followed by music streaming service Tencent Music Entertainment Group (TME), which was down 3.6%.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Wipro (WIT), which rose 4.1% and 3.4% respectively. They were followed by Infosys (INFY) and Sify Technologies (SIFY), which were up 3.3% and 2.4% respectively.

The lone decliner in South Asia was biotech firm ASLAN Pharmaceuticals (ASLN), which tumbled 14%.

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