Online Stocks Lead Asian Equities Modestly Higher

MT Newswires · 01/26 23:44

10:40 AM EST, 01/26/2023 (MT Newswires) -- Online stocks helped Asian equities move modestly higher in Thursday trading as American depositary receipts of Asian stocks were up 0.39% to 1,699.48 on the S&P Asia 50 ADR Index.

In North Asia, the gainers were led by travel company Tuniu (TOUR) and consumer finance company, Qudian (QD), which climbed 7.3% and 6.2% respectively. They were followed by wealth management firm Noah Holdings (NOAH) and video-sharing site Bilibili (BILI), which rose 4.5% and 4.4% respectively.

The decliners in North Asia were led by ecommerce fashion platform MOGU Inc. (MOGU) and educational services provider Four Seasons Education (FEDU), which fell 7% and 3.2% respectively. They were followed by content aggregator Qutoutiao (QTT) and luxury online retailer Secoo (SECO), which lost 2.4% and 2.2% respectively.

In South Asia, the gainers were led by digital entertainment firm Sea Limited (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which rose 4.3% and 2.1% respectively. They were followed by business process management company WNS (WNS) and automaker Tata Motors (TTM), which were up 1.3% and 1.1% respectively.

The decliners in South Asia were led by biotech firm ASLAN Pharmaceuticals (ASLN) and telecommunications operator PLDT Inc. (PHI), which dropped 1.3% and 0.7% respectively. They were followed by IT firm Wipro (WIT) and financial services company ICICI Bank (IBN), which were off 0.5% and 0.3% respectively.

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