Asian Equities Traded in the US as American Depositary Receipts Decline in Thursday Trading

MT Newswires Live10-24

Asian equities traded in the US as American depositary receipts were moving lower Thursday morning, declining 0.75% to 2,062.31 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by automotive ecommerce platform TuanChe (TC), which soared 112%, followed by biotech firm Zai Lab (ZLAB), which climbed more than 14% higher. They were followed by automotive ecommerce platform Cango (CANG) and utilities company Korea Electric Power (KEP), which were up 5.6% and 4.9% respectively.

The decliners from North Asia were led by education company 17 Education & Technology Group (YQ) and brand platform Baozun (BZUN), which dropped 4% and 6.1% respectively. They were followed by internet and data center provider VNET Group (VNET) and ecommerce fashion platform MOGU (MOGU), which lost 4.74% and 3.8% respectively.

From South Asia, the only gainers were tech conglomerate Sea (SE) and IT firm Infosys (INFY), which were up 0.9% and 0.2% respectively.

The decliners from South Asia were led by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which fell 0.3% and 1.9% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were off 0.9% and 0.4% respectively.

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