Asian ADRs Lower as Indian Banks Contract

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Depository receipts of Asian stocks contracted slightly on Monday morning, falling 0.14% to 154.69 on the Bank of New York Mellon ADR Index.

Declines in Indian banking institutions were partially offset by gains in solar companies and internet-based service providers.

China Finance Online ( JRJC ), led the gainers in North Asia, expanding 19.69%. Solar energy company Yingli Green Energy ( YGE ) lifted 4.2% and Trina Solar ( TSL ), a Chinese manufacturer of photovoltaic modules, expanded 4.18%.


In South Asia, Hyderabad-based pharmaceutical company Dr Reddy's Laboratories ( RDY ) jumped 1.02%, followed by Wipro ( WIT ), an IT services and consulting company, which expanded 0.86% and SIFY (SIFY), an information and communications technology company, which lifted 0.5%.

Decliners in North Asia were led by Jumei (JMEI), an online retailer of beauty products, which fell 3.72%, followed by Bitauto (BITA), a provider of internet content and marketing services, down 1.32%. Autohome (ATHM), the Chinese auto information website, was down 0.77%.

In South Asia, telecommunications services company Telekomunikasi Indonesia (TLK) led the decliners, dropping 1.36%. It was followed by HDFC (HDB), the Indian banking and financial services company, also down 0.88%, and Indian bank ICICI Bank (IBN), down 0.62%.



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.

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



This article appears in: Investing , Commodities

Referenced Stocks: JRJC , YGE , TSL , RDY , WIT

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