Asian ADRs Move Higher in Monday Trading


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American depository receipts of Asian stocks were trading 1.03% higher at 159.88 on the Bank of New York Mellon Asia ADR Index on Monday.

In North Asia, the gainers were led by online retailer LightInTheBox ( LITB ), and outdoor media company Airmedia ( AMCN ), which surged 13.4% and 9.7% respectively. They were followed by China Digital TV Holding (STV), up 9.4%, a provider of conditional access systems to China, and online game developer The9 ( NCTY ), up 5.9%.

The decliners in North Asia were led by solar park operator Sky Solar Holdings Ltd. ( SKYS ), which tumbled 10.1%, followed by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, which shed 6%. Leju Holdings (LEJU), a real estate services provider in China, was down 4.8%, while China Finance Online (JRJC), a web-based financial services company, dropped 3.7%.

In South Asia, the gainers were led by natural resources firm Vedanta (VEDL), which rose 3.4%, followed by automaker Tata Motors (TTM), and WNS Holdings (WNS), a provider of business process management services, which increased 0.7% each. HDFC Bank (HDB) was up 0.6%.

ICICI Bank (IBN) led the decliners in South Asia, falling 8.3%, followed by direct-to-home video provider Videocon d2h (VDTH), which lost 1.4%. Pharmaceutical firm Dr. Reddy's Laboratories (RDY), and Philippines telecommunications provider PLDT (PHI) were off 0.5% and 0.2% 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 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks
Referenced Symbols: LITB , AMCN , NCTY , SKYS , KONE


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