Asian Equities Traded in the US as American Depositary Receipts Fall Sharply in Thursday Trading
Asian equities traded in the US as American depositary receipts were falling sharply Thursday morning, dropping 1.2% to 2,766.6 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by travel company Tuniu (TOUR) and fintech firm Maase (MAAS), which climbed 16.3% and 15.9% respectively. They were followed by education company 51Talk Online Education Group (COE) and media company Phoenix New Media (FENG), which increased 5.5% and 3.9% respectively.The decliners from North Asia were led by video display maker LG Display (LPL) and biopharmaceutical company Zai Lab (ZLAB), which shed 17% and 5.3% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and fintech company Jiayin Group (JFIN), which dropped 5% and 3.6% respectively.From South Asia, the only gainers were pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator PLDT (PHI), which rose 4.6% and 0.2% respectively.The decliners from South Asia were led by IT firms Infosys (INFY) and Wipro (WIT), which fell 6.4% and 4.7% respectively. They were followed by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which were each down 2.9%.
