DR Market News Briefs

Asian Equities Traded in the US as American Depositary Receipts Trend Lower in Friday Trading; End Week Up Over 4%


Last updated: 02/09/2024 10:36:30

10:36 AM EST, 02/09/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipts were moving modestly lower Friday morning, declining 0.34% to 1,821.01 on the S&P Asia 50 ADR Index. Despite trending lower for the day, the index is poised to end the week more than 4% higher.

From North Asia, the gainers were led by consumer lending firm Dunxin Financial (DXF) and solar project developer Emeren Group (SOL), which climbed 7.3% and 6.1%, respectively. They were followed by financial product recommendation platform Jianpu Technology (JT) and wealth management firm Puyi (PUYI), which rose 5.7% and 4.6%, respectively.

The decliners from North Asia were led by online luxury retailer Secoo (SECO) and automotive e-commerce platform TuanChe (TC), which fell 14% and 11%, respectively. Pet-focused platform Boqii (BQ) was down 3.5%, while mobile big data platform Aurora Mobile (JG) lost 3.2%.

From South Asia, the gainers were led by financial services company ICICI Bank (IBN) and telecommunications operator Telekomunikasi Indonesia (TLK), which rose 2.5% and 0.5%, respectively. They were followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY) and IT firm Wipro (WIT), which added 0.4% each.

The decliners from South Asia were led by biotech firm ASLAN Pharmaceuticals (ASLN) retreated 2.3%, while IT firm Sify Technologies (SIFY) lost 1.5%. They were followed by tech conglomerate Sea (SE) and business process management company WNS (WNS), which were down 1% and 0.9%, respectively.

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