Asian Equities Traded in the US as American Depositary Receipts Fall Sharply in Monday Trading

MT Newswires Live2024-12-30

Asian equities traded in the US as American depositary receipts started the shortened trading week sharply lower Monday morning, falling 1.29% to 2,065.95 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by internet and data center operator VNET Group (VNET) and pet-focused platform Boqii (BQ), which climbed 16% and 12% respectively. They were followed by diagnostic imaging centers company Concord Medical Services (CCM) and mobile big data platform Aurora Mobile (JG), which rose 5.6% and 4.5% respectively.

The decliners from North Asia were led by automotive ecommerce platform Cango (CANG) and computer hardware maker Canaan (CAN), which fell 8.3% and 7% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and ecommerce brand platform Baozun (BZUN), which dropped 6% and 5.7% respectively.

From South Asia, there were no gainers.

The decliners from South Asia were led by IT firms Sify Technologies (SIFY) and Wipro (WIT), which lost 9.2% and 3.2% respectively. They were followed by IT firm Infosys (INFY) and tech conglomerate Sea (SE), which were down 2.3% and 1.4% respectively.

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