Asian equities traded in the US as American depositary receipts were trending sharply higher Monday morning, surging 1.58% to 2,893.83 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by biopharmaceutical company Zai Lab (ZLAB) and semiconductor company ASE Technology (ASX), which climbed 7.1% and 8.4% respectively. They were followed by lender Sumitomo Mitsui Financial Group (SMFG) and used car marketplace Uxin (UXIN), which advanced 3.2% and 8.4%, respectively.

The decliners from North Asia were led by solar panel maker Jinko (JKS) and polysilicon manufacturer Daqo New Energy (DQ), which dropped 5.6% and 6.6% respectively. They were followed by automotive marketplace Token Cat (TC) and online entertainment service iQIYI (IQ), which fell 0.7% and 4.5% respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Sify Technologies (SIFY), which rose 3.5% and 3.4% respectively. They were followed by lender HDFC Bank (HDB) and telecommunications operator Telekomunikasi Indonesia (TLK), which were up 2.2% and 1.8% respectively.

The decliners from South Asia were led by telecommunications operator PLDT (PHI) and computer hardware maker Canaan (CAN), which lost 2% and 0.6% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY), which was off 0.6%.