Asian Equities Traded in the US as American Depositary Receipts Surge Higher in Wednesday Trading

MT Newswires Live07-31

Asian equities traded in the US as American depositary receipts were surging higher Wednesday morning, advancing 2.5% to 1,960.19 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services (CCM) and semiconductor company United Microelectronics (UMC), which climbed 13% and 9.2%, respectively. They were followed by semiconductor company Silicon Motion Technology (SIMO) and online education platform 51Talk Online Education Group (COE), which increased 6.1% and 3.4%, respectively.

The decliners from North Asia were led by e-commerce fashion platform MOGU (MOGU), which fell 8.5% and mobile health care app 111 (YI), which declined 6.8%. They were followed by ad agency iClick Interactive Asia Group (ICLK) and media company Phoenix New Media (FENG), which dropped 5.3% and 4.4%, respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and financial services company ICICI Bank (IBN), which rose 2.4% and 1%, respectively. Pharmaceutical firm Dr. Reddy's Laboratories (RDY) was up 0.9% and telecommunications operator PLDT (PHI) added 0.5%.

The decliners from South Asia were led by IT firms Infosys (INFY) and Wipro (WIT), which lost 2.5% and 1.1%, respectively. They were followed by business process management company WNS (WNS) and financial services company HDFC Bank (HDB), which were off 0.4% and 0.1%, respectively.

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