Asian ADRs Gain as Toyota Rises on Mizuho's Upgrade to Buy; Ubic Jumps

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Asian American depositary receipts gained on Friday, bucking a selloff in U.S. markets that extended for a second day.

A report on U.S. producer pricing spurred unexpected inflation concerns, while preliminary readings of April consumer sentiment were better than forecast.

The BNY Mellon Asian ADR Index gained 0.4%, narrowing its year-to-date loss to 5.9%.

Toyota ( TM ) rose 1.9% to $105.34 per ADR after Mizuho upgraded its investment rating on the car maker's stock to buy from neutral.

Ubic ( UBIC ), a Japanese provider of data analysis, jumped 9% to $11.40 after introducing a litigation analysis system that can handle 200 terabytes of data per application. The service will be available on May 1.

Visionchina Media ( VISN ), a Chinese operator of digital TV networks on mass-transit systems, gained as much as 6% before fading after signing an agreement with China Unicom to provide Wi-Fi services on public transportation throughout the country.

Mobile app provider Sungy Mobile ( GOMO ) gained 5.3%, while online sports lottery operator 500.com ( WBAI ) advanced 5.2%. Medical R&D outsourcer Wuxi Pharmatech (WX) rose 3.5%.

Multi-platform marketing company Acorn International (ATV) led Asian ADR decliners with a 16% plunge. It was followed by NQ Mobile (NQ), down 13% to $13.95, and China Mobile Games & Entertainment (CMGE), down 7.44% to $17.17.



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

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This article appears in: Investing , Commodities

Referenced Stocks: TM , UBIC , VISN , GOMO , WBAI

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