Asian Equities Traded in the US as American Depositary Receipts Rise Sharply in Monday Trading

MT Newswires Live
Oct 20

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.

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