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

MT Newswires Live10-31

Asian equities traded in the US as American depositary receipts were falling sharply Thursday morning as the S&P Asia 50 ADR Index declined 1.64% to 2,045.98.

From North Asia, the gainers were led by polysilicon manufacturer Daqo New Energy (DQ) and solar panel maker JinkoSolar (JKS), which climbed 7.1% and 6.3%, respectively. They were followed by education company 17 Education & Technology Group (YQ) and diagnostic imaging centers company Concord Medical Services (CCM), which increased 4.6% and 3.5%, respectively.

The decliners from North Asia were led by automotive ecommerce platform TuanChe (TC) and computer hardware maker Canaan (CAN), which tumbled 17% and 10%, respectively. They were followed by media company Phoenix New Media (FENG) and healthcare platform 111 (YI), which lost 5.6% and 5.3%, respectively.

There were no gainers from South Asia.

The decliners from South Asia were led by telecommunications operator Telekomunikasi Indonesia (TLK) and IT firm Sify Technologies (SIFY), which fell 3.3% and 2.9%, respectively. They were followed by telecommunications operator PLDT (PHI) and tech conglomerate Sea (SE), which dropped 1.3% and 1.7%, respectively.

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