Asian equities traded in the US as American depositary receipts fell sharply Thursday morning, dropping 1.87% to 2,595.15 on the S&P Asia 50 ADR Index.

From North Asia, the gainers included fintech firm J and Friends (JF) and music-streaming service Tencent Music Entertainment Group (TME), which rose 3.5% and 2.7% respectively.

The decliners from North Asia were led by ecommerce company Alibaba Group (BABA) and Bitcoin miner Cango (CANG), which shed 8.7% and 8.6% respectively. They were followed by game live-streaming service HUYA (HUYA) and internet and data center services provider VNET Group (VNET), which dropped 8.1% and 7.7% respectively.

From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY), which increased 2%, followed by lender ICICI Bank (IBN) and IT firm Infosys (INFY), which were advanced 0.4% each.

The decliners from South Asia were led by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which lost 4.7% and 3.3% respectively. They were followed by lender HDFC Bank (HDB) and IT firm Wipro (WIT), which were down 2.6% and 0.2% respectively.