Asia ADRs Tracking Nikkei's 3% Drop Seen Amid Iraq Air Strikes, Other Geopolitical Uncertainty

By Staff,

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Depository receipts of Asian stocks as a group were slightly lower in late-morning Friday trade. The BNY Mellon Asia ADR Index is down 0.21% at 149.74.

In Asia, both the Hong Kong Hang Seng Index and the Nikkei closed lower in the wake of U.S. President Barack Obama's authorization of Iraq air strikes.

Decliners among North Asia ADRs included China's mobile internet services providers NQ Mobile ( NQ ), down 4.5%, and Cheetah Mobile ( CMCM ), down 1.4% as well as solar power product makers JinkoSolar ( JKS ), down 2.8%, and Ja Solar Holdings ( JASO ), lower 1.7%.

In South Asian ADRs, HDFC Bank ( HDB ) and car maker Tata Motors (TTM) were lower 1.7% and 1.9%, respectively, while (REDF), the provider of online business and consumer offerings, fell 0.4%

Among ADR gainers were LCD manufacturer Himax Technologies (HIMX), up 2.0%, internet TV company Youku Tudou (YOKU), adding 6.8%. Online direct sales company (JD) rose 2.2% and KT Corporation (KT) gained 3.5%. South Asia gainers included Infosys (INFY), a provider of business consulting, technology and engineering services, higher 0.7% and Wipro (WIT), an IT services company, up 1.4%.

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: NQ , CMCM , JKS , JASO , HDB

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