10:32 AM EDT, 04/08/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipts kicked off the week trending sharply higher Monday morning, rising 1.24% to 1,901.25 on the S&P Asia 50 ADR Index.

From North Asia, the gainers were led by media company Phoenix New Media ( FENG ) and travel company Tuniu ( TOUR ) , which rose 4.9% and 4.4%, respectively. They were followed by automotive ecommerce platforms Uxin ( UXIN ) and TuanChe ( TC ) , which increased 4.1% and 4%, respectively.

The decliners from North Asia were led by ecommerce fashion platform MOGU ( MOGU ) , which fell 13%, followed by video-sharing service iQIYI (IQ) and online luxury retailer Secoo ( SECO ) , which dropped 3.8% each, followed by internet search engine Baidu ( BIDU ) , which was down 2.1%.

From South Asia, the gainers were led by IT firm Sify Technologies ( SIFY ) and telecommunications operator PLDT ( PHI ) , which rose 2.3% and 1.7%, respectively. They were followed by financial services company ICICI Bank ( IBN ) and tech conglomerate Sea (SE), which were up 1.2% and 1%, respectively.

The decliners from South Asia were led by IT firm Wipro ( WIT ) , which fell 2.5%, followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Infosys ( INFY ) , which were off 0.3% and 0.2%, respectively.