Asian ADRs Move Sharply Higher in Wednesday Trading

American depositary receipts of Asian stocks were trading 1.05% higher at 1,467.80 on the BNY Mellon Asia 50 ADR Index on Wednesday.

In North Asia, the gainers were led by Aluminum Corporation of China (ACH) and financial services firm Nomura (NMR), which climbed 6% and 4.4% respectively. They were followed by financial services company Mitsubishi UFJ Financial (MUFG) and oil and gas company Sinopec Shanghai Petrochemical (SHI), which were up 3.1% and 2.7%.

The decliners in North Asia were led by digital and mobile healthcare platform 111, Inc. (YI) and social network company Mogu (MOGU), which fell 7.8% and 5.6% respectively. They were followed by computer-based testing services provider ATA (ATAI), which lost 2.1%.

In South Asia, the gainers were led by automaker Tata Motors (TTM) and IT company SIFY Technologies (SIFY), which rose 5.1% and 3.6% respectively. They were followed by mining company Vedanta (VEDL) and telecommunications operator PLDT (PHI), which were up 2.7% and 1.9%.

IT firm Wipro (WIT) led the decliners in South Asia, falling 2%, followed by telecommunications operator Telekomunikasi Indonesia (TLK), which was off 0.7%.

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