Asian ADRs Move Sharply Lower in Tuesday Trading

Tuesday, July 28, 2020 10:47 AM | MT Newswires

American depositary receipts of Asian stocks were trading 1.47% lower at 1,682.84 on the BNY Mellon Asia 50 ADR Index on Tuesday.

In North Asia, the gainers were led by internet services company Sohu.com Limited (SOHU) and consumer lending firm China Finance Online (JRJC), which climbed 16% and 4.6% respectively. They were followed by educational services provider Tarena International, Inc. (TEDU) and software firm Gridsum Holding Inc. (GSUM), which rose 2.6% and 2%.

The decliners in North Asia were led by power management components maker O2Micro International Limited (OIIM) and solar park operator Sky Solar Holdings (SKYS), which fell 11% and 8.2% respectively. They were followed by Canon Inc. (CAJ), a manufacturer of office multifunction devices, and semiconductor company United Microelectronics Corporation (UMC), which dropped 6.8% and 6.7%.

In South Asia, the gainers were led by automaker Tata Motors Limited (TTM) and IT services firm Wipro Limited (WIT), which rose 5.7% and 1.5% respectively. They were followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY) and biotech company ASLAN Pharmaceuticals (ASLN), which were up 1.2% each.

The decliners in South Asia were led by ICICI Bank Limited (IBN) and IT company Sify Technologies Limited (SIFY), which fell 3.6% and 1.7% respectively. They were followed by telecommunications operator Telekomunikasi Indonesia (TLK) and business process management services provider WNS Holdings (WNS), which were down 1.6% and 1.1%.

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