10:35 AM EDT, 08/02/2024 (MT Newswires) -- Asian equities traded in the US as American depositary receipts were plummeting late Friday morning, falling 4% to 1,830.17 on the S&P Asia 50 ADR Index. The index is poised to close out the week nearly 6% lower.

From North Asia, the gainers were led by ecommerce fashion platform MOGU ( MOGU ) and ad agency iClick Interactive Asia Group ( ICLK ) , which rose 6% and 4.8% respectively. They were followed by media company Phoenix New Media ( FENG ) and financial services company CNFinance ( CNF ) , which were up 3.9% and 1.9% respectively.

The decliners from North Asia were led by financial services companies Sumitomo Mitsui Financial Group ( SMFG ) and Mitsubishi UFJ Financial Group ( MUFG ) , which fell 10.8% and 10.9%% respectively. They were followed by financial services company Nomura (NMR) and music streaming service Tencent Music Entertainment Group ( TME ) , which dropped 10.7% and 5.2% respectively.

From South Asia, the lone gainer was telecommunications operator Telekomunikasi Indonesia (TLK), which was up 0.5%.

The decliners from South Asia were led by tech conglomerate Sea (SE) and business process management company WNS (WNS), which lost 5.9% and 3.6% respectively. They were followed by IT firms Wipro ( WIT ) and Infosys ( INFY ) , which were down 3.9% and 3.3% respectively.