Asian ADRs Move Sharply Lower in Friday Trading

Last Updated: Friday, August 19, 2022 10:36 AM | MT Newswires

American depositary receipts of Asian stocks were trading 1.4% lower at 1,510.89 on the S&P/BNY Mellon Asia 50 ADR Index on Friday.

In North Asia, the gainers were led by online luxury retailer Secoo Holding (SECO) and mobile app developer Cheetah Mobile (CMCM), which climbed 10% and 2.4%, respectively. They were followed by thin-film display maker LG Display Co. (LPL) and online automotive platform Autohome (ATHM), which rose 1.5% and 0.7%, respectively.

The decliners in North Asia were led by digital consumer finance platform 360 DigiTech (QFIN) and online video game operator The9 Limited (NCTY), which declined 9% and 8.4%, respectively. They were followed by fintech platform Jiayin Group (JFIN) and educational services provider Four Seasons Education (FEDU), which lost 7.2% and 6%, respectively.

In South Asia, the lone gainer was telecommunications operator PLDT (PHI), which was up 0.7%.

The decliners in South Asia were led by automaker Tata Motors (TTM) and digital entertainment firm Sea Ltd. (SE), which declined 3.8% and 2.7%, respectively. Financial services companies ICICI Bank (IBN) was down 2% and HDFC Bank (HDB) lost 1.9%.

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