DR Market News Briefs

Tech Stocks Weigh Down Asian Equities Traded in the US as American Depositary Receipts in Tuesday Trading


Last updated: 11/21/2023 10:36:38

10:36 AM EST, 11/21/2023 (MT Newswires) -- Asian equities traded in the US as American depositary receipts fell in Tuesday trading, dropping 0.9% to 1,651.55 on the S&P Asia 50 ADR Index as tech stocks declined.

From North Asia, the gainers were led by educational services provider Tarena International (TEDU) and home equity loan provider CNFinance (CNF), which climbed 7.4% and 5.7% respectively. They were followed by digital services firm Xunlei (XNET) and online educational platform 17 Education & Technology Group (YQ), which rose 5.6% and 5.3% respectively.

The decliners from North Asia were led by video-sharing platform iQIYI (IQ) and real estate services provider Leju (LEJU), which lost 10% and 7.6% respectively. They were followed by consumer lending firm Dunxin Financial (DXF) and ad agency iClick Interactive Asia Group (ICLK), which dropped 5.9% and 4.4% respectively.

From South Asia, the gainers were led by financial services company HDFC Bank (HDB) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which rose 1.4% and 0.7% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and business process management company WNS (WNS), which were up 0.5% and 0.3% respectively.

The decliners from South Asia were led by biotech firm ASLAN Pharmaceuticals (ASLN) and IT firm Sify Technologies (SIFY), which fell 11% and 6.3% respectively. They were followed by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which were down 2.1% and 0.5% respectively.

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