Asian ADRs Tumble Lower in Thursday Trading

Last Updated: Thursday, September 29, 2022 10:34 AM | MT Newswires

American depositary receipts of Asian stocks were trading 3.18% lower at 1,304.57 on the S&P/BNY Mellon Asia 50 ADR Index on Thursday.

In North Asia, the gainers were led by travel company Tuniu Corporation (TOUR) and ad agency iClick Interactive Asia Group (ICLK), which rose 3.2% and 1.8% respectively. They were followed by used car ecommerce platform Uxin Limited (UXIN) and wealth management firm Puyi Inc. (PUYI), which were up 1.5% and 1.2% respectively.

The decliners in North Asia were led by content aggregator Qutoutiao Inc. (QTT) and mobile app developer Cheetah Mobile Inc. (CMCM), which fell 12% and 8.9% respectively. They were followed by online game developer The9 Limited (NCTY) and fintech company Pintec Technology (PT), which lost 8.6% and 6.9% respectively.

In South Asia, the lone gainer was pharmaceutical company Dr. Reddy's Laboratories Limited (RDY), which rose 0.6%.

The decliners in South Asia were led by automaker Tata Motors (TTM) and IT firm Wipro (WIT), which dropped 3.5% and 2.9% respectively. They were followed by digital entertainment firm Sea Limited (SE) and financial services company ICICI Bank (IBN), which fell 2.1% and 2% respectively.

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