DR Market News Briefs

Asian Equities Move Lower in Friday Trading, Look to Close Week Ahead


Last updated: 03/17/2023 10:38:59

10:38 AM EDT, 03/17/2023 (MT Newswires) -- Asian equities were moving lower in Friday morning trading but remain set to close the week slightly higher as American depositary receipts of Asian stocks declined 0.61% to 1,510.98 on the S&P Asia 50 ADR Index.

In North Asia, the gainers were led by internet and data center service provider 21Vianet Group (VNET) and ad agency iClick Interactive Asia Group (ICLK), which climbed 7.2% and 6.5% higher, respectively. They were followed by wealth management firm Puyi (PUYI) and online game developer The9 (NCTY), which rose 6% and 3.5%, respectively.

The decliners in North Asia were led by travel company Tuniu (TOUR) and financial product recommendation platform Jianpu Technology (JT), which shed 11% and 8.5%, respectively. They were followed by media company Phoenix New Media (FENG) and solar panel maker ReneSola (SOL), which dropped 4.5% and 4%, respectively.

In South Asia, the only gainers were telecommunications operator PLDT (PHI) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which rose 2.3% and 1.6%, respectively.

The decliners in South Asia were led by biotech firm ASLAN Pharmaceuticals (ASLN) and telecommunications operator Telekomunikasi Indonesia (TLK), which dropped 2.8% and 1.5%, respectively. They were followed by financial services company HDFC Bank (HDB) and IT firm Wipro (WIT), which were down 1% each.

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