Asian Equities Traded in the US as American Depositary Receipts Trend Lower in Wednesday Trading

MT Newswires Live10-30

Asian equities traded in the US as American depositary receipts were moving lower Wednesday morning, declining 0.70% to 2,087.73 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by polysilicon manufacturer Daqo New Energy (DQ) and diagnostic imaging centers company Concord Medical Services (CCM), which climbed 8.3% and 7%, respectively. They were followed by solar panel maker JinkoSolar (JKS) and consumer lending firm Qudian (QD), which increased 6% and 2.8%, respectively.

The decliners from North Asia were led by computer hardware maker Canaan (CAN) and education company 17 Education & Technology Group (YQ), which fell 15% and 14%, respectively. They were followed by automotive ecommerce platform TuanChe (TC) and electric vehicle maker NIO (NIO), which lost 4.6% and 3.7%, respectively.

From South Asia, the only gainers were telecommunications operators PLDT (PHI) and Telekomunikasi Indonesia (TLK), which were up 1% each.

The decliners from South Asia were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Infosys (INFY), which dropped 1.7% and 1.4%, respectively. They were followed by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which were off 0.5% and 0.3%, respectively.

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