Asian ADRs Move Higher in Friday Trading

Friday, July 24, 2020 10:28 AM | MT Newswires

American depositary receipts of Asian stocks were trading 0.98% higher at 1,659.57 on the BNY Mellon Asia 50 ADR Index on Friday.

In North Asia, the gainers were led by Chinese search engine Sogou Inc. (SOGO) and solar equipment company ReneSola Ltd (SOL), which climbed 15% and 8.7% respectively. They were followed by the steel company Ossen Innovation (OSN) and wealth management firm Jupai Holdings (JP), which rose 3.7% and 1.6%.

The decliners in North Asia were led by used car e-commerce platform Uxin Limited (UXIN) and fashion e-commerce platform MOGU Inc. (MOGU), which fell 9.4% and 12.2% respectively. They were followed by automaker NIO Inc. (NIO) and travel company Tuniu Corporation (TOUR), which dropped 5% and 4.6%.

In South Asia, the only gainers were telecommunications operator PLDT Inc. (PHI) and IT firm Wipro Limited (WIT), which rose 1.5% and 1.2% respectively.

The decliners in South Asia were led by digital entertainment company Sea Limited (SE) and biotech firm ASLAN Pharmaceuticals Limited (ASLN), which fell 3.1% and 3.7% respectively. They were followed by automaker Tata Motors (TTM) and mining company Vedanta Limited (VEDL), which were off 1.9% and 1.3%.

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