Asian equities traded in the US as American depositary receipts surged higher Wednesday morning, rising 1.58% to 2,710.28 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by education company 17 Education & Technology Group (YQ) and tech company Xunlei (XNET), which rose 6% and 5.1%, respectively. They were followed by semiconductor companies ASE Technology (ASX) and Silicon Motion Technology (SIMO), which were up 4.7% and 4.1%, respectively.

The decliners from North Asia were led by used car platform Uxin (UXIN) and fintech firm Pintec Technology (PT), which fell 3.5% and 2.3%, respectively. They were followed by media company Phoenix New Media (FENG) and fintech company AMTD Digital (HKD), which lost 1.1% and 0.7%, respectively.

From South Asia, the gainers were led by telecommunications operator Telekomunikasi Indonesia (TLK) and tech conglomerate Sea (SE), which advanced 1.8% and 1.6%, respectively. They were followed by lenders HDFC Bank (HDB) and ICICI Bank (IBN), which increased 1.4% and 1.3%, respectively.

The lone decliner from South Asia was IT firm Sify Technologies (SIFY), which dropped 7%.