Video technology supplier Vimicro International (
) shares increased 12% on Wednesday morning as American depositary
receipts of Asian companies traded 0.04% higher at 154.22,
according to the Bank of New York Mellon Asia ADR Index.
The rise in Asian companies coincided with news of a regular
cabinet meeting held in China, during which Chinese policymakers
decided to maintain their "targeted policy" stance, in a bid to
keep up the economic momentum in the country.
The latest announcement comes on the back of a series of policy
measures designed to keep China's economic growth rate rising.
Second quarter economic growth in China was up 7.5%.
Vimicro International (
) was up 12%, followed by Youku (
), an internet television company, which gained 4.52%. China
Finance Online (
), an online financial information company, was up 3% and Zhaopin
), an online jobseeking website, was up 2.79%.
Electronic commerce company JD.com (
) lifted 2.44% and Indian automotive manufacturing company Tata
Motors (TTM) expanded by 1.59%.
Asian decliners were led by Autohome (ATHM), an online
destination for automobile consumers, which contracted by 7.95%.
Photovoltaic module manufacturer Yingli Green Energy (YGE) was down
5.90% and online automotive information provider Bitauto (BITA) was
E-House (China) (EJ), a real estate services company, slid 3.5%
and PC and mobile security specialist Qihoo 360 Technology (QIHU)
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