Asian ADRs Move Lower in Thursday Trading

Last Updated: Thursday, August 18, 2022 10:50 AM | MT Newswires

American depositary receipts of Asian stocks were trading 0.76% lower at 1,527.35 on the S&P/BNY Mellon Asia 50 ADR Index on Thursday.

In North Asia, the gainers were led by solar panel maker JinkoSolar (JKS) and casino and resort operator Melco Resorts & Entertainment (MLCO), which rose 5.6% and 5.5% respectively. They were followed by solar project developer ReneSola (SOL) and biotech firm BeiGene (BGNE), which were up 4.7% and 2.5%.

The decliners in North Asia were led by educational services provider Tarena International, Inc. (TEDU) and content aggregator Qutoutiao Inc. (QTT), which fell 4.9% and 4.1% respectively. They were followed by brand e-commerce company Baozun Inc. (BZUN) and ad agency iClick Interactive Asia Group (ICLK), which lost 3.9% and 3.8%.

In South Asia, the gainers were led by biotech firm ASLAN Pharmaceuticals (ASLN), which rose 5.3%, followed by telecommunications operator PLDT Inc. (PHI) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 1.3% and 0.2% respectively.

The decliners in South Asia were led by digital entertainment company Sea Limited (SE) and IT firm Wipro (WIT), which lost 3.9% and 1.3% respectively. They were followed by IT companies Sify Technologies (SIFY) and Infosys (INFY), which were off 1.1% and 0.8%.

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