Asian Equities Traded in the US as American Depositary Receipts Lower in Friday Trading, Ends Week Up Slightly

MT Newswires Live
16 May

Asian equities traded in the US as American depositary receipts were slightly lower Friday morning, declining 0.26% to 2,246.05 on the S&P Asia 50 ADR Index, which is up 0.36% for the week.

From North Asia, the gainers were led by video-sharing platform Bilibili (BILI) and online discount retailer Vipshop (VIPS), which climbed 8% and 6.1%, respectively. They were followed by computer hardware maker Canaan (CAN) and consumer lending firm Qudian (QD), which were up 5% and 3.9%, respectively.

The decliners from North Asia were led by automotive marketplace Token Cat (TC) and pet-focused platform Boqii (BQ), which dropped 19% and 4.1%, respectively. They were followed by financial services company CNFinance (CNF) and online fashion marketplace MOGU (MOGU), which lost 5% and 2.7%, respectively.

From South Asia, the lone gainer was telecommunications operator Telekomunikasi Indonesia (TLK), which rose 1.3%.

The decliners from South Asia were led by IT firms Infosys (INFY) and Wipro (WIT), which fell 2.9% and 1.7%, respectively. They were followed by telecommunications operator PLDT (PHI) and financial services company HDFC Bank (HDB), which were down 1.2% and 1.1%, respectively.

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