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

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Asian equities traded in the US as American depositary receipts were slightly higher on Monday morning, up 0.2% to 2,938.75 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by technology company NetEase (NTES) and financial group Mitsubishi UFJ Financial (MUFG), which advanced 3.4% and 1.4% respectively. They were followed by private education service provider New Oriental Education & Tech (EDU), which added 0.7%.

The decliners from North Asia were led by solar technology companies Daqo New Energy (DQ) and JinkoSolar (JKS), which fell 4.5% and 2.9% respectively.

From South Asia, the gainers were led by technology company Infosys (INFY) and tech conglomerate Sea (SE), which rose 3.7% and 2.8% respectively.

The decliners from South Asia were led by technology company Sify Technologies (SIFY), which fell 3.3%, followed by pharmaceutical company Dr. Reddy's Laboratories (RDY), which was down 1.5%.

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Saudi Shares Start Week Higher Amid US-Iran Focus

The Tadawul All Share Index closed trading at 0.10% in the green as the latest geopolitical updates of the US-Iran conflict took the global spotlight on Sunday.Iran and the US launched back-and-forth strikes against each other in Gulf states. The missile and drone attacks resulted in Iran closing the Strait of Hormuz again."Asian stocks rose sharply on Friday, led by chip and AI firms as investors brushed off concern over the stalled recovery of energy supplies through the critical Strait of Hormuz, with tit-for-tat attacks escalating between the U.S. and Iran. The renewed back-and-forth attacks have further eroded the fragile three-week-old ceasefire, bringing the spotlight back on oil prices and what they could mean for inflation and the global rates outlook," United Securities LLC said in a note.Looking ahead, the economic calendar will see the release of the US' June inflation print on Tuesday, with Saudi Arabia following suit on Wednesday.Back at home and on the corporate front, Knowledge Economic City Co. (SASE:4310) shares ticked up 1.11% as it signed a nonbinding term sheet to create a closed-ended private real estate investment fund for the Multaqa Almadinah project's Multaqa Hospitality Cluster 1.Meanwhile, Umm Al Qura for Development and Construction Co. (SASE:4325) entered into reservation deals with Watheeq Real Estate Opportunities Second Fund for the sale of three land plots in Makkah. Shares of the real estate developer closed 2.02% higher.

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Asia Markets

Update: US Equity Indexes Rise as Diplomatic Engagements Between Washington, Iran Send Crude Oil Lower

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Dow JonesNasdaq CompositeS&P 500$META$MRNA$SKHY$SKHYV
Asia Markets

US Equity Indexes Mixed This Week as Investors Chase Growth After Washington Strikes Aim to Free Hormuz From Iran's Control

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Dow JonesNasdaq CompositeS&P 500$META$SKHY$SKHYV