Asian ADRs Move Higher in Friday Trading

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American depository receipts of Asian stocks were trading 0.97% higher at 137.91 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by Japanese financial firms Mitsubishi UFJ Financial ( MTU ) and Sumitomo Mitsui Financial ( SMFG ), which surged 7.7% and 7.1%, respectively. They were followed by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, and advertising company VisionChina Media ( VISN ), which climbed 6% each.

In South Asia, the gainers were led by IT services firm SIFY ( SIFY ), which rose 0.9%, followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and HDFC Bank ({HDB), which moved up 0.5% each. Consulting and tech firm Infosys (INFY) edged up 0.4%.

Chinese search engine Baidu (BIDU) led the decliners in North Asia, falling 4%, followed by online retailer LightInTheBox (LITB), which dropped 3.5%. They were followed by casino and resort operator Melco Crown Entertainment (MPEL) and Korean telecommunications service provider KT (KT), which lost 2.7% and 2.5%, respectively.

The decliners in South Asia were led by ICICI Bank (IBN), which fell 2.4%, followed by Indonesian telecommunications company Telekomunikasi Indonesia (TLK) and Philippine Long Distance Telephone (PHI), which edged 0.02% and 0.03% lower, respectively.

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) 2016 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Stocks
Referenced Symbols: MTU , SMFG , KONE , VISN , SIFY

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