Asian equities traded in the US as American depositary receipts surged 3.41% Monday morning to 2,686.18 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by education company 17 Education & Technology Group (YQ) and computer hardware maker Canaan (CAN), which climbed 15% and 10%, respectively. They were followed by polysilicon manufacturer Daqo New Energy (DQ) and internet and data center services provider VNET Group (VNET), which advanced 8.3% and 7.6%, respectively.

The decliners from North Asia were led by Melco Resorts & Entertainment (MLCO), which shed 4.3%. It was followed by semiconductor company AMTD Digital (HKD) and solar project company Emeren Group (SOL), which were down 1.5% and 0.5%, respectively.

From South Asia, the gainers were led by IT firm Sify Technologies (SIFY) and telecommunications operator Telekomunikasi Indonesia (TLK), which rose 4.5% and 1.4%, respectively. They were followed by IT company Infosys (INFY) and tech conglomerate Sea (SE), which were up 1.3% and 0.8%, respectively.

Among the decliners from South Asia were pharmaceutical company Dr. Reddy's Laboratories (RDY), which was off 0.1%.