Financial Stocks Lead Asian Equities Modestly Lower in Tuesday Trading
Financial Stocks Lead Asian Equities Modestly Lower in Tuesday Trading金融股带动亚洲股市在周二的交易中小幅走低
10:38 AM EST, 01/10/2023 (MT Newswires) -- Financial stocks led Asian equities slightly lower in Tuesday morning trading as American depositary receipts of Asian stocks declined 0.29% to 1,581.27 on the S&P Asia 50 ADR Index.
In North Asia, the gainers were led by polysilicon manufacturer Daqo New Energy (DQ) and educational services provider Four Seasons Education (FEDU), which advanced 7.2% and 6.1%, respectively. They were followed by travel company Tuniu Corp. (TOUR) and fintech platform Jiayin Group (JFIN), which each rose 5.2%.
The decliners in North Asia were led by wealth management firm Noah Holdings (NOAH) and financial services company Mitsubishi UFJ Financial Group (MUFG), which lost 2.8% and 2.7%, respectively. They were followed by credit-tech platform 360 DigiTech (QFIN) and financial services company Nomura Holdings (NMR), which fell 1.8% and 1.6%, respectively.
In South Asia, the gainers were led by IT firm Sify Technologies (SIFY) and automaker Tata Motors (TTM), which rose 5.1% and 4%, respectively. They were followed by telecommunications operators PLDT (PHI) and Telekomunikasi Indonesia (TLK), which were up 2.3% and 0.7%, respectively.
The decliners in South Asia were led by financial service company HDFC Bank (HDB) and IT firm Infosys (INFY), which dropped 2.2% and 1.2%, respectively. They were followed by financial service company ICICI Bank (IBN) and digital entertainment firm Sea Ltd. (SE), which were down 0.7% and 0.1%, respectively.