Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Tuesday Trading

Asian equities traded in the US as American depositary receipts were sharply higher Tuesday morning, rising 1.2% to 3,006.67 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by automotive marketplace Cango (CANG) and lender Shinhan Financial Group (SHG), which rose 4.8% and 3.5% respectively. They were followed by music streaming service Tencent Music Entertainment Group (TME) and fintech firm AMTD Digital (HKD), which increased 3% and 2.3% respectively.

The decliners from North Asia were led by consumer lender Eason Technology (DXF), which dropped 5.8%, followed by fashion platform MOGU (MOGU) and utilities company Korea Electric Power (KEP), which lost 4% each, and semiconductor company Silicon Motion Technology (SIMO), which was down 3.3%.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which advanced 4.6% and 1.9% respectively. They were followed by IT firm Wipro (WIT) and lender ICICI Bank (IBN), which were up 1.6% and 0.9% respectively.

The only decliner from South Asia was pharmaceutical company Dr. Reddy's Laboratories (RDY), which was down 1.2%.