Asian ADRs Move Lower in Friday Trading


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American depository receipts of Asian stocks were trading 0.55% lower at 143.95 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by Taiwanese electronics manufacturer AU Optronics ( AUO ), which rose 3.6%, followed by job portal Zhaopin LTD ( ZPIN ) and advertising company VisionChina Media ( VISN ), which were up 2.8% and 2.6% respectively. Online direct sales company JD.com ( JD ) increased 2.6%.

The gainers in South Asia were led by information and communications technology solutions provider SIFY ( SIFY ), which rose 1.8%. SIFY was followed by direct-to-home video provider Videocon d2h (VDTH), and Indian natural resources company Vedanta (VEDL), which were up 0.7% each.

Financial services company China Finance Online (JRJC) led the decliners in North Asia, tumbling 17.4%, followed by online marketing company Cheetah Mobile (CMCM), which fell 5.1%. Independent power producer Sky Solar Holdings (SKYS) and casino and resort operator Melco Crown Entertainment (MPEL) lost 4.6 and 3.7%, respectively.

And in South Asia, the decliners were led by Indonesian telecommunications company Telekomunikasi Indonesia (TLK), which fell 1.6%, followed by Philippine Long Distance Telephone (PHI) and Indian automobile manufacturer Tata Motors (TTM), which lost 1.3% and 1%, respectively. India-based pharmaceutical company Dr. Reddy's Laboratories (RDY) was down 0.8%.

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: AUO , ZPIN , VISN , JD , SIFY


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