10:45 AM EDT, 08/01/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipts were falling sharply lower Thursday morning, dropping 1.65% to 1,935.64 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by diagnostic imaging centers company Concord Medical Services ( CCM ) and e-commerce fashion platform MOGU ( MOGU ) , which advanced 21% and 11%, respectively. They were followed by used car e-commerce platform Uxin ( UXIN ) , which added 5.6%, and then ad agency iClick Interactive Asia Group ( ICLK ) , which gained 5.3%.

The decliners from North Asia were led by pet-focused platform Boqii ( BQ ) and electric vehicle maker NIO (NIO), which lost 5.9% and 5.3%, respectively. They were followed by financial services company Nomura (NMR) and online automotive platform Autohome ( ATHM ) , which dropped 4.2% and 3.9%, respectively.

From South Asia, the gainers were led by pharmaceutical company Dr. Reddy's Laboratories (RDY), which added 1.7%, followed by financial services company HDFC Bank ( HDB ) , which rose 1.6%. They were followed by IT firms Sify Technologies ( SIFY ) and Infosys ( INFY ) , which were up 1.1% and 0.8%, respectively.

The decliners from South Asia were led by financial services company ICICI Bank ( IBN ) , which fell 1.6%, followed by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which were off 1% and 0.2%, respectively.