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

MT Newswires Live08-07

Asian equities traded in the US as American depositary receipts were surging higher Wednesday morning, climbing 2.23% to 1,863.91 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by education platform 17 Education & Technology Group (YQ) and financial services company Sumitomo Mitsui Financial Group (SMFG), which advanced 18% and 7.3%, respectively. They were followed by brand platform 36Kr (KRKR) and semiconductor company ASE Technology (ASX), which rose 7.2% and 6.2%, respectively.

The decliners from North Asia were led by online game developer The9 (NCTY) and media company Phoenix New Media (FENG), which fell 2.9% and 2.7%, respectively. They were followed by property technology company Fangdd Network Group (DUO) and diagnostic imaging centers company Concord Medical Services (CCM), which dropped 2.4% and 1.5%, respectively.

From South Asia, the gainers were led by IT firm Sify Technologies (SIFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which increased 3.9% and 2.7%, respectively. They were followed by financial services company HDFC Bank (HDB) and tech conglomerate Sea (SE), which were up 2.3% and 1.8%, respectively.

There were no decliners from South Asia.

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