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Asian ADRs Move Sharply Lower in Friday Trading

MT Newswires ·  {{timeTz}}

10:40 AM EST, 01/21/2022 (MT Newswires) -- American depository receipts of Asian stocks were trading 1.97% lower at 1,882.57 on the S&P/BNY Mellon Asia 50 ADR Index on Friday.

In North Asia, the gainers were led by semiconductor company AMTD International (HKIB) and online lending platform Pintec Technology (PT), which climbed 11% and 4.7% respectively. They were followed by wealth management firm Puyi (PUYI) and internet company Sohu.com (SOHU), which rose 2.5% and 2%.

The decliners in North Asia were led by financial information/service company China Finance Online (JRJC) and educational services provider RYB Education (RYB), which tumbled 38% and 15% respectively. They were followed by educational services provider OneSmart International Education Group (ONE) and content aggregator Qutoutiao (QTT), which fell 7.6% and 5.3%.

In South Asia, the gainers were led by telecommunications operator Telekomunikasi Indonesia (TLK) and business process management company WNS Holdings (WNS), which rose 1.4% and 0.5% respectively. They were followed by bank holding company HDFC Bank (HDB) and telecommunications operator PLDT (PHI), which were up 0.3% and 0.1%.

The decliners in South Asia were led by digital entertainment firm Sea Limited (SE) and automaker Tata Motors Limited (TTM), which fell 5.2% and 3.6% respectively. They were followed by IT firm Sify Technologies Limited (SIFY) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were down 2.2% and 1.9%.

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