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

MT Newswires Live12-16

Asian equities traded in the US as American depositary receipts opened the week lower on Monday morning, declining 0.39% to 2,093.35 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by e-commerce brand platform Baozun (BZUN) and automotive e-commerce platform Cango (CANG), which surged 21% and 14% respectively. They were followed by solar project developer Emeren Group (SOL) and mobile app developer Cheetah Mobile (CMCM), which climbed 7.8% and 3.9% respectively.

The decliners from North Asia were led by solar panel maker JinkoSolar (JKS) and healthcare platform 111 (YI), which fell 7.2% and 6.6% respectively. They were followed by financial services company CNFinance (CNF) and polysilicon manufacturer Daqo New Energy (DQ), which dropped 4.6% and 4% respectively.

From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Sify Technologies (SIFY), which increased 2.4% and 0.9% respectively. They were followed by IT firm Infosys (INFY) and financial services company ICICI Bank (IBN), which were off 0.4% and 0.3% respectively.

The decliners from South Asia were led by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which lost 1.3% and 1.1% respectively. They were followed by IT firm Wipro (WIT) and telecommunications operator PLDT (PHI), which were off 0.7% and 0.6% respectively.

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