Asian Equities Traded in US as ADRs Fall in Tuesday Trading
Asian equities traded in the US as American depositary receipts fell Tuesday morning with the S&P Asia 50 ADR Index declining 1.1% to 2,805.12.From North Asia, the gainers were led by education company 51Talk Online Education Group (COE) and lender CNFinance Holdings (CNF), which climbed 12% and 7.3%, respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and fintech firm J and Friends Holdings (JF), which advanced 6.1% and 4.4%, respectively.The decliners from North Asia were led by fintech firm Maase (MAAS) and fashion platform MOGU (MOGU), which dropped 15% and 5.5%, respectively. They were followed by internet and data center services provider VNET Group (VNET) and video streaming service iQIYI (IQ), which lost 5.2% and 5%, respectively.From South Asia, the gainers were led by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which rose 1.8% and 1.6%, respectively. They were followed by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which were up 1.5% and 0.3%, respectively.The decliners from South Asia were led by telecommunications operator Telekomunikasi Indonesia (TLK) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which fell 3.2% and 1.5%, respectively. They were followed by IT firm Infosys (INFY) and tech conglomerate Sea (SE), which were off 0.7% and 0.5%, respectively.
