Asian Equities Traded in the US as American Depositary Receipts Surge in Thursday Trading
Asian equities traded in the US as American depositary receipts were surging higher Thursday morning, climbing 2.22% to 2,904.10 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by lender Shinhan Financial Group (SHG) and utilities company Korea Electric Power (KEP), which rose 8% and 4.7% respectively. They were followed by pharmaceutical company Takeda Pharmaceutical (TAK) and automotive company Honda Motor (HMC), which were up 3.6% and 3.4% respectively.The decliners from North Asia were led by automotive marketplace Token Cat (TC) and real estate management and digital security company Eason Technology (DXF), which plunged 37% and 30% respectively. They were followed by automotive marketplaces Uxin (UXIN) and Autohome (ATHM), which decreased 6.2% and 3.5% respectively.From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and IT firm Infosys (INFY), which advanced 4.2% and 3% respectively. They were followed by tech conglomerate Sea (SE) and telecommunications operator PLDT (PHI), which increased 2.2% and 2% respectively.The decliners from South Asia were led by fintech firm Trident Digital Tech (TDTH) and IT company Sify Technologies (SIFY), which fell 1.2% and 1% respectively. They were followed by IT company Wipro (WIT) and lender HDFC Bank (HDB), which were off 0.2% and 0.1% respectively.