Asian Equities Traded in the US as American Depositary Receipts Surges Higher in Friday Trading

MT Newswires Live08-23

Asian equities traded in the US as American depositary receipts were surging higher Friday morning, climbing 1.2% to 1,977.76 on the S&P Asia 50 ADR Index. The gain helped nudge the index into positive territory for the week.

From North Asia, the gainers were led by video-sharing platform Bilibili (BILI) and brand platform 36Kr (KRKR), which advanced 13% and 5.4% respectively. They were followed by automotive ecommerce platform Cango (CANG) and mobile big data platform, which rose 5% each.

The decliners from North Asia were led by video-streaming service iQIYI (IQ) and ecommerce fashion platform MOGU (MOGU), which lost 7.5% and 1.6% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and fintech firm AMTD Digital (HKD), which dropped 1.5% and 0.5% respectively.

From South Asia, the gainers were led by telecommunications operator Telekomunikasi Indonesia (TLK) and IT firm Sify Technologies (SIFY), which increased 2% and 4.9% respectively. They were followed by financial services companies HDFC Bank (HDB) and ICICI Bank (IBN), which were up 1.5% and 1% respectively.

The only decliners from South Asia were IT firms Infosys (INFY) and Wipro (WIT), which were off 0.6% and 0.2% respectively.

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