Asian Equities Traded in the US as American Depositary Receipts Lower in Friday Trading, Ends Week Up Slightly

MT Newswires Live
05-16

Asian equities traded in the US as American depositary receipts were slightly lower Friday morning, declining 0.26% to 2,246.05 on the S&P Asia 50 ADR Index, which is up 0.36% for the week.

From North Asia, the gainers were led by video-sharing platform Bilibili (BILI) and online discount retailer Vipshop (VIPS), which climbed 8% and 6.1%, respectively. They were followed by computer hardware maker Canaan (CAN) and consumer lending firm Qudian (QD), which were up 5% and 3.9%, respectively.

The decliners from North Asia were led by automotive marketplace Token Cat (TC) and pet-focused platform Boqii (BQ), which dropped 19% and 4.1%, respectively. They were followed by financial services company CNFinance (CNF) and online fashion marketplace MOGU (MOGU), which lost 5% and 2.7%, respectively.

From South Asia, the lone gainer was telecommunications operator Telekomunikasi Indonesia (TLK), which rose 1.3%.

The decliners from South Asia were led by IT firms Infosys (INFY) and Wipro (WIT), which fell 2.9% and 1.7%, respectively. They were followed by telecommunications operator PLDT (PHI) and financial services company HDFC Bank (HDB), which were down 1.2% and 1.1%, respectively.

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