ADRs Pressured in U.S. Trading as S&P 500 Declines for Third Day

By Staff,

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American depositary receipts declined on Tuesday as U.S. markets fell for a third day in a row.

The BNY Mellon Composite ADR index slid 0.3%, compared with a 0.2% fall in the S&P 500.

Hong Kong Television Network Ltd. ( HKTV ) led decliners after disclosing that a government agency didn't approve of its plans to launch a mobile-television network. Those plans have been postponed.

ADRs for European banks fell after the European Central Bank detailed plans for how authorities should scrutinize the assets of 128 banks currently under view.

Barclays ( BCS ) -2.8%, Royal Bank of Scotland ( RBS ) -2.7% and Credit Suisse ( CS ) -0.9% all declined.

Bona Film Group Ltd. ( BONA ) led gainers with a 14% jump after saying it would make presentations to investors at upcoming conferences hosted by investment banks.

Ossen Innovation Co. (OSN) gained 9% after saying a subsidiary was honored as an "innovative enterprise" and a "first-class export enterprise" by the local government of the Jiangxi province.

CNInsure Inc. (CISG) rose 5.6% after reporting gains in revenue and net income.

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
Referenced Stocks: HKTV , BCS , RBS , CS , BONA

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