Asian equities traded in the US as American depositary receipts were higher on Monday morning, up 1.6% to 2,697.57 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by music streaming company Tencent Music Entertainment (TME) and electric vehicle manufacturer Li Auto (LI), which rose 6.9% and 5.8% respectively. They were followed by financial services company Futu (FUTU) and e-vapor company RLX Technology (RLX), which climbed 5% and 3.8% respectively.

The decliners from North Asia were led by electric scooter company Niu Technologies (NIU) and internet and data center service provider VNET (VNET), which dropped 9.5% and 7.9% respectively. They were followed by gig economy platform Quhuo (QH), which fell 6.3%.

From South Asia, the gainers were led by HDFC Bank (HDB) and ICICI Bank (IBN), which rose 3.4% and 3.2% respectively.

The decliners from South Asia were led by telecom PLDT (PHI), which was down 2.3%, followed by tech company Wipro (WIT), which fell 2%.