Asian Equities Traded in the US as American Depositary Receipts Open Week Lower in Monday Trading

MT Newswires Live2024-09-16

Asian equities traded in the US as American depositary receipts were moving lower Monday morning, declining 0.57% to 1,926.62 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services (CCM) and online game developer The9 Limited (NCTY), which rose 7.7% and 4.4% respectively. They were followed by media company Phoenix New Media (FENG) and mobile app developer Cheetah Mobile (CMCM), which were up 5% and 4% respectively.

The decliners from North Asia were led by financial services company Dunxin Financial (DXF) and polysilicon manufacturer Daqo New Energy (DQ), which fell 34.3% and 5.3% respectively. They were followed by property technology company Fangdd Network Group (DUO), which dropped 8.7%.

From South Asia, the only gainers were financial services company ICICI Bank (IBN) and telecommunications operator PLDT (PHI), which were up 1.4% and 0.2% respectively.

The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which dropped 2.1% and 1.7% respectively. They were followed by pharmaceutical Dr. Reddy's Laboratories (RDY), which was off 1%.

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