Asian Equities Traded in the US as American Depositary Receipts Decline in Friday Trading But Up for Week

Asian equities traded in the US as American depositary receipts were moving lower Friday morning, falling 1.57% to 2,096.46 on the S&P Asia 50 ADR Index. Despite the decline, the index is still up about 1.3% for the week.

From North Asia, the gainers were led by automotive ecommerce platform Cango (CANG) and financial services company CNFinance (CNF), which climbed 18% and 9.1%, respectively. They were followed by media company Phoenix New Media (FENG) and diagnostic imaging centers company Concord Medical Services (CCM), which were up 4.6% and 3.2%. respectively.

The decliners from North Asia were led by consumer lending firm LexinFintech (LX) and online brokerage UP Fintech (TIGR), which fell 9.6% and 9.3%, respectively. They were followed by internet and data services provider VNET Group (VNET) and polysilicon manufacture Daqo New Energy (DQ), which dropped 8.3% and 6.7%, respectively.

From South Asia, the only gainers were IT firm Infosys (INFY) and telecommunications operator Telekomunikasi Indonesia (TLK), which were up 1.1% and 0.1%. respectively.

The decliners from South Asia were led by tech conglomerate Sea (SE) and telecommunications operator PLDT (PHI), which were down 1.2% and 0.5%, respectively. They were followed by IT firms Sify Technologies (SIFY) and Infosys (INFY), which lost 2.5% and 1.1%.