Asian Stocks Rise on Friday But Still Down for the Week

Asian equities traded in the US as American Depositary Receipts (ADRs) rose on Friday, but still ended down for the week. The S&P Asia 50 ADR Index, which tracks Asian stocks listed in the US, gained 0.70% to 2,989.20, but was down around 1% for the week so far.

In North Asia, used car marketplace Uxin (UXIN) led the gainers with a 7.7% increase, followed by lender Mitsubishi UFJ Financial Group (MUFG), which rose 3.7%. Fintech firm J and Friends (JF) and lender Nomura (NMR) also advanced 3.1% and 2.4%, respectively.

However, not all North Asian stocks performed well. Internet and data center services provider VNET Group (VNET) fell 5.1%, while commercial real estate and digital security firm Eason Technology (DXF) dropped 5%. Online game developer The9 (NCTY) and fintech company Qfin (QFIN) were also down, losing 3.9% and 1%, respectively.

In South Asia, lender HDFC Bank (HDB) and IT firm Wipro (WIT) led the gainers with increases of 0.7% and 0.3%, respectively. IT firm Sify Technologies (SIFY) also rose 0.1%. However, computer hardware maker Canaan (CAN) and telecommunications operator PLDT (PHI) dropped 2% and 1.3%, respectively.