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

MT Newswires Live08-30

Asian equities traded in the US as American depositary receipts were moving higher Friday morning, rising 0.6% to 1,961.4 on the S&P Asia 50 ADR Index.

The index is poised to close out the week up by about the same.

From North Asia, the gainers were led by data center services provider VNET Group (VNET) and financial services company Dunxin Financial (DXF), which climbed 9.9% and 4.8% respectively. They were followed by online game developer The9 (NCTY) and e-commerce fashion platform Mogu (MOGU), which rose 4.2% and 3.4% respectively.

The decliners from North Asia were led by computer hardware maker Canaan (CAN) and education company Four Seasons Education (FEDU), which fell 9.7% and 8.3% respectively. They were followed by pet-focused platform Boqii (BQ) and mobile big data platform Aurora Mobile (JG), which dropped 7.2% and 6.5% respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which increased 1.4% each. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK), which was up 0.9%.

The decliners from South Asia were led by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which lost 2.2% and 0.6% respectively. They were followed by financial services company HDFC Bank (HDB), which was off 0.3%.

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