Asian Equities Traded in the US as American Depositary Receipts Fall in Friday Trading

MT Newswires Live
Aug 29

Asian equities traded in the US as American depositary receipts were lower Friday morning, declining 0.2% to 2,483.29 on the S&P Asia 50 ADR Index, which is down about 1.2% for the week.

From North Asia, the gainers were led by e-commerce company Alibaba Group (BABA) and financial services company CNFinance (CNF), which climbed 10% and 8.5% respectively. They were followed by polysilicon manufacturer Daqo New Energy (DQ) and streaming platform operator HUYA (HUYA), which advanced 8.2% and 6% respectively.

The decliners from North Asia were led by consumer lending firm Eason Technology (DXF) and online game developer The9 (NCTY), which fell 6.6% and 6.5% respectively. They were followed by fintech firm Pintec Technology (PT) and mobile healthcare platform 111 (YI), which dropped 4% and 3.9% respectively.

From South Asia, the lone gainer was lender ICICI Bank (IBN), which edged 0.02% higher.

The decliners from South Asia were led by IT firm Wipro (WIT) and telecommunications operator PLDT (PHI), which lost 1.6% and 1.5% respectively. They were followed by telecommunications operator PT Telekomunikasi Indonesia (TLK) and IT company Infosys (INFY), which were down 1.3% and 1.2% respectively.

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