Asian Equities Traded in the US as American Depositary Receipts Rise in Monday Trading

MT Newswires Live2024-09-09

Asian equities traded in the US as American depositary receipts opened the week higher Monday morning, rising 0.69% to 1,883.68 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by mobile app developer Cheetah Mobile (CMCM) and travel company Tuniu (TOUR), which rose 8.5% and 4.8% respectively. They were followed by electric vehicle maker NIO (NIO) and media company Phoenix New Media (FENG), which increased 4.7% and 4.4% respectively.

The decliners from North Asia were led by diagnostic imaging centers company Concord Medical Services (CCM) and used car ecommerce platform Uxin (UXIN), which fell 6.1% and 2%, respectively. They were followed by video-sharing platform Bilibili (BILI), which declined 1.7%.

From South Asia, the gainers were led by financial services companies ICICI Bank (IBN) and HDFC Bank (HDB), which were up 2.2% and 1.6% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which rose 0.9% and 0.7% respectively.

The decliners from South Asia were led by IT firm Sify Technologies (SIFY), which lost 6.3%, followed by IT firm Wipro (WIT) and telecommunications operator PLDT (PHI), which were off 0.6% and 0.4% respectively.

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