Asian Equities Traded in US as ADRs Decline in Friday Trading

MT Newswires Live
Jan 30

Asian equities traded in the US as American depositary receipts fell Friday morning with the S&P Asia 50 ADR Index dropping 1.1% to 2,878.79.

From North Asia, the gainers were led by education company Four Seasons Education (FEDU) and semiconductor company Silicon Motion Technology (SIMO), which climbed 9.3% and 7% respectively. They were followed by game live-streaming service HUYA (HUYA) and fintech firm Maase (MAAS), which increased 3% and 2.3% respectively.

The decliners from North Asia were led by education company 17 Education & Technology Group (YQ) and internet and data-center services provider VNET Group. (VNET), which fell 5.7% and 5.4% respectively. They were followed by lender Nomura (NMR) and utilities company Korea Electric Power (KEP), which lost 4.3% and 4.2% respectively.

From South Asia, the gainers were led by IT firm Sify Technologies (SIFY), which rose 3.4%, followed by telecommunications operators Telekomunikasi Indonesia (TLK) and PLDT (PHI), which were up 0.7% and 1.6% respectively.

The decliners from South Asia were led by lender ICICI Bank (IBN) and tech conglomerate Sea (SE), which dropped 1.8% and 1.4% respectively. They were followed by IT firm Infosys (INFY) and lender HDFC Bank (HDB), which were down 1.1% and 1% respectively.

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