Asian equities traded in the US as American depositary receipts opened sharply higher Monday morning, rising 2.43% to 2,622.72 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by electric vehicle maker NIO (NIO), which advanced 6.6%. It was followed by lender Nomura (NMR) and fintech firm J and Friends (JF), which climbed 4.8% and 4.4%, respectively.

The decliners from North Asia were led by education company 51Talk Online Education Group (COE) and fashion platform MOGU (MOGU), which fell 6.6% and 5.7%, respectively. They were followed by fintech company Jiayin Group (JFIN) and game live-streaming service DouYu International (DOYU), which dropped 3.7% and 2.9%, respectively.

From South Asia, the gainers were led by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which rose 4% and 2.9%, respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and IT company Infosys (INFY), which were up 2.7% and 2.2%, respectively.

The only decliners from South Asia were lender HDFC Bank (HDB) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were off 0.5% each.