Asian Equities Traded in the US as American Depositary Receipts Open Week Lower in Monday Trading

MT Newswires Live
19 May

Asian equities traded in the US as American depositary receipts opened the week modestly lower Monday morning, declining 0.22% to 2,239.36 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by education company Four Seasons Education (FEDU) and diagnostic imaging centers company Concord Medical Services (CCM), which climbed 8.7% and 7.3%, respectively. They were followed by biotech firm Zai Lab (ZLAB) and utilities company Korea Electric Power (KEP), which were up 4.2% and 3.9%, respectively.

The decliners from North Asia were led by pet-focused platform Boqii (BQ) and media company Phoenix New Media (FENG), which fell 7.4% and 5.2%, respectively. They were followed by video-sharing platform Bilibili (BILI) and computer hardware maker Canaan (CAN), which dropped 4.6% and 3%, respectively.

From South Asia, the gainers were led by telecommunications operator Telekomunikasi Indonesia (TLK) and tech conglomerate Sea (SE), which rose 3.1% and 0.6%, respectively. They were followed by financial services company HDFC Bank (HDB) and IT firm Infosys (INFY), which increased 0.4% and 0.3%, respectively.

The decliners from South Asia were led by telecommunications operator PLDT (PHI), which lost 1.3%, followed by IT companies Wipro (WIT) and Sify Technologies (SIFY), which were off 0.5% and 0.4%, respectively.

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