Asian Equities Traded in the US as American Depositary Receipts Surge Higher in Wednesday Trading

Asian equities traded in the US as American depositary receipts were surging higher Wednesday morning, advancing 2.5% to 1,960.19 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services (CCM) and semiconductor company United Microelectronics (UMC), which climbed 13% and 9.2%, respectively. They were followed by semiconductor company Silicon Motion Technology (SIMO) and online education platform 51Talk Online Education Group (COE), which increased 6.1% and 3.4%, respectively.

The decliners from North Asia were led by e-commerce fashion platform MOGU (MOGU), which fell 8.5% and mobile health care app 111 (YI), which declined 6.8%. They were followed by ad agency iClick Interactive Asia Group (ICLK) and media company Phoenix New Media (FENG), which dropped 5.3% and 4.4%, respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and financial services company ICICI Bank (IBN), which rose 2.4% and 1%, respectively. Pharmaceutical firm Dr. Reddy's Laboratories (RDY) was up 0.9% and telecommunications operator PLDT (PHI) added 0.5%.

The decliners from South Asia were led by IT firms Infosys (INFY) and Wipro (WIT), which lost 2.5% and 1.1%, respectively. They were followed by business process management company WNS (WNS) and financial services company HDFC Bank (HDB), which were off 0.4% and 0.1%, respectively.