Asian Equities Traded in the US as American Depositary Receipts Rise in Friday Trading; End Week Lower

MT Newswires Live
Aug 21

Asian equities traded in the US as American depositary receipts were tracking higher Friday morning, rising 0.58% to 2,993.52 on the S&P Asia 50 ADR Index, which is down 0.71% for the week so far.

From North Asia, the gainers were led by online game developer The9 (NCTY) and education company 51Talk Online Education Group (COE), which climbed 13% and 5.2%, respectively. They were followed by lender Shinhan Financial Group (SHG) and online entertainment service iQIYI (IQ), which increased 4% and 3.6%, respectively.

The decliners from North Asia were led by tech company Alibaba Group (BABA) and polysilicon manufacturer Daqo New Energy (DQ), which fell 6.6% and 6.1%, respectively. They were followed by game live-streaming service DouYu International (DOYU) and used car marketplace Uxin (UXIN), which were down 4.2% and 1.7%, respectively.

From South Asia, the gainers were led by computer hardware maker Canaan (CAN) and telecommunications operator Telekomunikasi Indonesia (TLK), which advanced 24% and 1.6%, respectively. They were followed by lenders ICICI Bank (IBN) and HDFC Bank (HDB), which were up 1.1% and 1%, respectively.

The only decliners from South Asia were IT firm Wipro (WIT) and telecommunications operator PLDT (PHI), which were down 1.1% and 0.1%, respectively.

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