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Asian ADRs Move Sharply Lower in Tuesday Trading

05/11/2021 06:46

10:39 AM EDT, 05/11/2021 (MT Newswires) -- American depositary receipts of Asian stocks were trading 1.54% lower at 2,042.29 on the S&P/BNY Mellon Asia 50 ADR Index on Tuesday.

In North Asia, the gainers were led by beverage company China New Borun Corporation (BORNY) and So-Young International Inc. (SY), an online platform for medical aesthetics, which rose 25% and 4.1% respectively. They were followed by online personal finance platform Jiayin Group Inc. (JFIN) and personal finance company X Financial (XYF), which increased 3.6% and 3.5%.

The decliners in North Asia were led by semiconductor companies United Microelectronics Corporation (UMC) and ASE Technology Holding Co. Ltd. (ASX) which fell 5.3% and 5.2% respectively. They were followed by consumer-lending firm Xiaobai Maimai Inc. (HX) and technology company Xunlei Limited (XNET), which lost 5% and 4.8%.

In South Asia, the only gainers were telecommunications operator PLDT Inc. (PHI) and automaker Tata Motors Limited (TTM), which rose 1.7% and 0.7% respectively.

The decliners in South Asia were led by biotech firm ASLAN Pharmaceuticals Limited (ASLN) and mining company Vedanta Limited (VEDL), which fell 4.6% and 2.4% respectively. They were followed by digital entertainment company Sea Limited (SE) and business process management services provider WNS Holdings Limited (WNS), which were down 1.8% and 1.4%.