Asian Equities Traded in the US as American Depositary Receipts Edge Higher in Wednesday Trading
Asian equities traded in the US as American depositary receipts were tracking modestly higher Wednesday morning, rising 0.24% to 2,986.79 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by biopharmaceutical company Zai Lab (ZLAB) and internet and data center services provider VNET Group (VNET), which climbed 5% and 1% respectively. They were followed by solar panel maker JinkoSolar (JKS) and video display maker LG Display (LPL), which increased 2.3% and 1.7% respectively.The decliners from North Asia were led by online entertainment video services company iQIYI (IQ) and brand platform 36Kr (KRKR), which lost 10% and 4.6% respectively. They were followed by media company Phoenix New Media (FENG) and education company 51Talk Online Education Group (COE), which fell 3.3% and 1.5% respectively.From South Asia, the gainers were led by telecommunications operators PLDT (PHI) and Telekomunikasi Indonesia (TLK), which rose 2.1% and 1.6% respectively. They were followed by IT firms Infosys (INFY) and Wipro (WIT), which were up 2.9% and 1.3% respectively.The only decliners from South Asia were IT firm Sify Technologies (SIFY) and lender ICICI Bank (IBN), which were down 1.3% and 0.1% respectively.