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Asian ADRs Move Sharply Lower in Tuesday Trading

MT Newswires ·  {{timeTz}}

10:36 AM EDT, 08/17/2021 (MT Newswires) -- American depositary receipts of Asian stocks were trading 1.91% lower at 1,956.74 on the S&P/BNY Mellon Asia 50 ADR Index on Tuesday.

In North Asia, the gainers were led by personal finance company X Financial (XYF) and wealth management firm Puyi Inc. (PUYI), which rose 5.9% and 2.4% respectively. They were followed by online education platform China Online Education Group (COE) and fintech platform Jiayin Group Inc. (JFIN), which increased 2.3% and 1.6%.

The decliners in North Asia were led by automotive ecommerce platform TuanChe Limited (TC) and music streaming service Tencent Music Entertainment Group (TME), which fell 15% and 13% respectively. They were followed by online luxury retailer Secoo Holding Limited (SECO) and educational services provider Tarena International, Inc. (TEDU), which dropped 8.3% and 7.3%.

In South Asia, the gainers were led by digital entertainment company Sea Limited (SE) and IT firm Wipro Limited (WIT), which rose 4.8% and 1.1% respectively. They were followed by telecommunications operator PLDT Inc. (PHI) and business process management company WNS Holdings (WNS), which were up 0.6% and 0.3%.

The decliners in South Asia were led by mining company Vedanta Limited (VEDL) and IT firm Sify Technologies Limited (SIFY), which fell 13% and 3.7% respectively. They were followed by automaker Tata Motors Limited (TTM) and biotech firm ASLAN Pharmaceuticals Limited (ASLN), which were down 3.2% and 0.8%.

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