DR Market News Briefs

Asian Equities Traded in the US as American Depositary Receipts Fall Sharply in Thursday Trading


Last updated: 09/21/2023 10:50:25

10:50 AM EDT, 09/21/2023 (MT Newswires) -- Asian equities traded in the US as American depositary receipts fell sharply Thursday morning, falling 1.29% to 1,605.38 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by used car e-commerce platform Uxin (UXIN) and home equity loan service provider CNFinance (CNF), which rose 3.8% and 2.5%, respectively. They were followed by financial services company Mitsubishi UFJ Financial Group (MUFG) and internet and data center service provider VNET Group (VNET), which were up 2% and 1.6%, respectively.

The decliners from North Asia were led by brand platform 36Kr (KRKR) and financial product recommendation platform Jianpu Technology (JT), which shed 11% and 8.8%, respectively. They were followed by e-commerce fashion platform MOGU (MOGU) and property technology company Fangdd Network Group (DUO), which lost 8.6% and 6.3%, respectively.

From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY) and telecommunications operator PLDT (PHI), which rose 0.3% each. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK), which nudged 0.04% higher.

The decliners from South Asia were led by tech conglomerate Sea (SE) and financial services company ICICI Bank (IBN), which fell 5.3% and 2.7%, respectively. They were followed by biotech firm ASLAN Pharmaceuticals (ASLN) and IT company Wipro (WIT), which were down 1.5% and 1.3%, respectively.

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