ADRs Gain Alongside U.S. Stocks; Sky-Mobi Jumps on China Unicom Agreement


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American depositary receipts rose with U.S. markets as investors returned to stocks on improved economic data and Crimea's anticipated vote to secede from the Ukraine.

The BNY Mellon ADR Composite Index increased 1%, compared with the 0.96% gain in the S&P 500 Index.

Sky-Mobi Ltd. ( MOBI ) led gainers with a 25% jump to $12.36 after saying it formed a sales partnership with a unit of China Unicom ( CHU ), the country's second-biggest cellular company.

Airmedia Group Inc. ( AMCN ), the Chinese outdoor advertising company, climbed 14% $2.29 to reverse three days of declines.

Concord Medical Services Holding Ltd. ( CCM ) jumped 11% to $8.19 after Nasdaq OMX Group Inc. ( NDAQ ) said the Chinese operator of medical clinics would be added to the Nasdaq Golden Dragon China Index on March 24.

Sina Corp. (SINA) gained 7.8% to $69.65 after Weibo Corp., a microblogging service mostly owned by Sina, filed for an initial public offering. Weibo plans to raise $500 million in the offering and will use some of the proceeds to repay loans to Sina, according to the filing.

Yingli Green Energy (YGE) was up 3.8% to $5.98 after saying it has won a deal to supply 10 megawatts of multicrystalline PV modules to U.K.'s solar company Solarcentury Holdings.

Siemens AG (SI) gained 3.7% to $130.38 after being upgraded by Bank of America Merrill Lynch to Buy from Neutral, and by J.P. Morgan Chase & Co. to Overweight from Neutral.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities
More Headlines for: MOBI , CHU , AMCN , CCM , NDAQ

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