Friday, May 22, 2020 3:35:29 PM
Asian ADRs Move Sharply Lower in Friday Trading
American depositary receipts of Asian stocks were trading lower Friday, with the BNY Mellon Asia 50 ADR Index down by 2.18%.
In North Asia, the gainers were led by consumer lending firm Hexindai Inc. (HX) , which was up by 6.4%, followed by automotive e-commerce platform TuanChe Limited (TC) at 4.4%, and mobile app developer Cheetah Mobile Inc. (CMCM), which rose 3.8%.
The decliners in North Asia were led by coffee shop chain Luckin Coffee Inc. (LK) , which fell another 24%. Brand e-commerce solutions company Baozun Inc. (BZUN) dropped 9.1%.
In South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories Limited (RDY) , which rose 1.2%. IT company Infosys Limited (INFY) and telecommunications operator PLDT Inc. (PHI) , were up 1.2% and 0.8%, respectively.
ICICI Bank Limited (IBN) and automaker Tata Motors Limited (TTM) led the decliners in South Asia, falling 3.4% and 3.6% respectively. They were followed by business process services provider WNS Holdings (WNS) and mining company Vedanta Limited (VEDL) , which lost 3.4% and 2.5%.
American depositary receipts of Asian stocks were trading lower Friday, with the BNY Mellon Asia 50 ADR Index down by 2.18%.
In North Asia, the gainers were led by consumer lending firm Hexindai Inc. (HX) , which was up by 6.4%, followed by automotive e-commerce platform TuanChe Limited (TC) at 4.4%, and mobile app developer Cheetah Mobile Inc. (CMCM), which rose 3.8%.
The decliners in North Asia were led by coffee shop chain Luckin Coffee Inc. (LK) , which fell another 24%. Brand e-commerce solutions company Baozun Inc. (BZUN) dropped 9.1%.
In South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories Limited (RDY) , which rose 1.2%. IT company Infosys Limited (INFY) and telecommunications operator PLDT Inc. (PHI) , were up 1.2% and 0.8%, respectively.
ICICI Bank Limited (IBN) and automaker Tata Motors Limited (TTM) led the decliners in South Asia, falling 3.4% and 3.6% respectively. They were followed by business process services provider WNS Holdings (WNS) and mining company Vedanta Limited (VEDL) , which lost 3.4% and 2.5%.
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