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.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment