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 surging higher Tuesday morning, rising 1.94% to 2,917.79 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by semiconductor companies ASE Technology (ASX) and Silicon Motion Technology (SIMO), which climbed 8% and 6.6% respectively. They were followed by semiconductor company Himax Technologies (HIMX) and fintech firm Jiayin Group (JFIN), which advanced 6.4% and 4.2% respectively.The decliners from North Asia were led by online game developer The9 (NCTY) and tech company Alibaba Group (BABA), which fell 3.2% and 1.7% respectively. They were followed by streaming music service Tencent Music Entertainment Group (TME) and education company 17 Education & Technology Group (YQ), which increased 1.5% and 1.4% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Sify Technologies (SIFY), which rose 6.2% and 2.2% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and lender HDFC Bank (HDB), which were up 1% and 0.8% respectively.The decliners from South Asia were led by fintech company Trident Digital Tech (TDTH) and IT firm Infosys (INFY), which dropped 2.9% and 0.8% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator PLDT (PHI), which were off 0.6% and 0.3% respectively.