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Lingering COVID Concerns Push Asian Equities Into Mixed Territory

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Last updated: 11/22/2022 11:17:03

11:17 AM EST, 11/22/2022 (MT Newswires) -- Asian equities moved into mixed territory in Tuesday trading with Hong Kong lower as investors worry that new COVID-19 cases in mainland China may lead to an economic slowdown, but Japan's benchmark Nikkei 225 rising.

American depositary receipts of Asian stocks were up 1.1% at 1,436.18 on the S&P Asia 50 ADR Index on Tuesday.

In North Asia, the gainers were led by Vipshop (VIPS) and chip maker Taiwan Semiconductor Manufacturing (TSM), which rose 6.1% and 3.5% respectively. They were followed by computer hardware maker Canaan (CAN) and music streaming firm Tencent Music (TME), which were up 5.6% and 1.7%.

The decliners in North Asia were led by online video platform iQIYI (IQ), which lost 9.7%.

In South Asia, the gainers were led by car maker Tata Motors (TTM), which rose 1%.

The decliners in South Asia were led by tech conglomerate Sea (SE) and telecom Telekomunikasi Indonesia (TLK), which dropped 1% and 0.5% respectively.

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