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Asian ADRs Move Sharply Lower in Monday Trading

05/10/2021 06:47

10:39 AM EDT, 05/10/2021 (MT Newswires) -- American depositary receipts of Asian stocks were trading 1.7% lower at 2,083.50 on the S&P/BNY Mellon Asia 50 ADR Index on Monday.

In North Asia, the gainers were led by aluminum producer Aluminum Corporation of China Ltd. (ACH) and oil and gas company PetroChina Company Ltd. (PTR), which climbed 10% and 3.5%, respectively. They were followed by financial holding firm Shinhan Financial Group Co. Ltd. (SHG), which rose 2.8%, and Korean steel company POSCO (PKX), which added 2.4%.

The decliners in North Asia were led by So-Young International Inc. (SY), an online platform that provides medical aesthetic information, which fell 10%, and personal finance company X Financial (XYF), which declined 9.4%. Video game developer The9 Ltd. (NCTY) was also down 8.7%, while online discount shop Vipshop Holdings Ltd. (VIPS) lost 7.9%.

In South Asia, the gainers were led by automaker Tata Motors Ltd. (TTM) and mining company Vedanta Ltd. (VEDL), which rose 2.8% and 2.5%, respectively. They were followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY) and IT firm Wipro Ltd. (WIT), which increased 1.8% and 1.5%, respectively.

The decliners in South Asia were led by digital entertainment company Sea Limited (SE) and biotech firm ASLAN Pharmaceuticals Limited (ASLN), which dropped 6.5% and 3.9%, respectively. They were followed by IT company Sify Technologies Ltd. (SIFY) and telecommunications operator Telekomunikasi Indonesia (TLK), which were down 3.3% and 1.5%, respectively.