Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Thursday Trading
Asian equities traded in the US as American depositary receipts ended the shortened trading week sharply higher Thursday morning, rising 1.5% to 2,895.67 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by used car marketplace Uxin (UXIN) and semiconductor company Silicon Motion Technology (SIMO), which advanced 8.2% and 7.2%, respectively. They were followed by semiconductor company ASE Technology (ASX) and fashion platform MOGU (MOGU), which increased 6.3% and 1.8%, respectively.The decliners from North Asia were led by mobile app developer Cheetah Mobile (CMCM) and brand platform 36Kr (KRKR), which fell 5.3% and 5% respectively. They were followed by mobile app developer Cheetah Mobile (CMCM) and real estate management and digital security company Token Cat (TC), which were down 4.3% and 3.7% respectively.From South Asia, the gainers were led by fintech firm Trident Digital Tech (TDTH) and telecommunications operator PLDT (PHI), which rose 4.2% and 1.2% respectively. They were followed by lender ICICI Bank (IBN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 1.1% and 0.5% respectively.The decliners from South Asia were led by IT firms Wipro (WIT) and Infosys (INFY), which lost 7.1% and 5.8% respectively. They were followed by tech conglomerate Sea (SE) and computer hardware maker Canaan (CAN), which dropped 1.1% and 0.1% respectively.
