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Asian Equities Track Lower in Tuesday Trading, Led by Tech Stocks

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Last updated: 01/24/2023 10:41:01

10:41 AM EST, 01/24/2023 (MT Newswires) -- Asian equities were trading lower Tuesday morning, led by tech stocks, as American depositary receipts of Asian stocks fell 0.35% to 1,694.37 on the S&P Asia 50 ADR Index.

In North Asia, the gainers were led by e-commerce fashion platform MOGU Inc. (MOGU) and fintech company Pintec Technology (PT), which rose 5.7% and 5.3%, respectively. They were followed by fintech platform Jiayin Group (JFIN) and wealth management firm Noah Holdings (NOAH), which increased 3.7% and 2.6%, respectively.

The decliners in North Asia were led by online game developer The9 (NCTY) and ad agency iClick Interactive Asia Group (ICLK), which lost 5% and 4.6%, respectively. They were followed by real estate services provider Leju Holdings (LEJU) and content aggregator Qutoutiao (QTT), which dropped 3.3% and 3.2%, respectively.

In South Asia, the gainers were led by biotech firm ASLAN Pharmaceuticals (ASLN) and financial services company HDFC Bank (HDB), which rose 9.5% and 1.3%, respectively. They were followed by automaker Tata Motors (TTM) and IT firm Sify Technologies (SIFY), which were up 1.1% and 0.4%, respectively.

The decliners in South Asia were led by digital entertainment firm Sea Limited (SE) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which fell 4% and 1.7%, respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and IT firm Infosys (INFY), which were off 1% and 0.7%, respectively.

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