Asian equities traded in the US as American depositary receipts were moving sharply higher Monday morning, rising 1.08% to 2,723.44 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by computer hardware maker Canaan (CAN) and automotive marketplace Cango (CANG), which advanced 29% and 6.4%, respectively. They were followed by education company 17 Education & Technology Group (YQ) and internet and data center services provider VNET Group (VNET), which climbed 4.6% and 4.5%, respectively.

The decliners from North Asia were led by diagnostic imaging centers company Concord Medical Services (CCM) and consumer lending firm Eason Technology (DXF), which lost 8.6% and 2.6%, respectively. They were followed by utilities company Korea Electric Power (KEP) and fintech firm Jiayin Group (JFIN), which dropped 2.5% and 1.9%, respectively.

From South Asia, the gainers were led by tech conglomerate Sea (SE), which rose 2.8%. It was followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Infosys (INFY), which were up 1.5% and 1.1%, respectively.

The decliners from South Asia were led by lender ICICI Bank (IBN), which fell 3.5%, followed by telecommunications operator PLDT (PHI) and IT firm Wipro (WIT), which were off 0.8% and 0.2%, respectively.