10:47 AM EDT, 04/16/2024 (MT Newswires) -- Financial and telecoms stocks led Asian equities traded in the US as American depositary receipts sharply lower Tuesday morning, falling 1.33% to 1,822.99 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by ecommerce fashion platform MOGU (MOGU) and diagnostic imaging centers company Concord Medical Services (CCM), which rose 4.9% and 4.8% respectively. They were followed by financial services company CNFinance (CNF) and online luxury retailer Secoo (SECO), which increased 4.7% and 3.3% respectively.

The decliners from North Asia were led by online game developer The9 (NCTY) and property technology company Fangdd Network Group (DUO), which dropped 10% and 4.6% respectively. They were followed by fintech firm Jiayin Group (JFIN) and used car ecommerce platform Uxin (UXIN), which lost 4.4% and 4% respectively.

From South Asia, the only gainers were tech conglomerate Sea (SE) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 3.4% and 0.7% respectively.

The decliners from South Asia were led by telecommunications operator PLDT (PHI) and biotech firm ASLAN Pharmaceuticals (ASLN), which lost 3.6% and 2.8% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and IT firm Infosys (INFY), which were down 1.9% and 1% respectively.

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