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Asian ADRs Move Lower in Tuesday Trading


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American depository receipts of Asian stocks were trading 0.48% lower at 177.43 on the Bank of New York Mellon Asia ADR Index on Tuesday.

In North Asia, the gainers were led by media company Phoenix New Media ( FENG ), and polysilicon manufacturer Daqo New Energy ( DQ ), which surged 10.6% and 9.2% respectively. They were followed by airline operator China Eastern Airlines ( CEA ), up 6.3%, and Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, up 4.5%.

The decliners in North Asia were led by commercial wheel manufacturer China Zenix Auto International ( ZX ), and Semiconductor Manufacturing International (SMI), which tumbled 10.9% and 9.2% respectively. They were followed by ATA (ATAI), a provider of computer-based testing services in China, down 4.3%, and IT firm ChinaCache (CCIH), lower 3.2%.

In South Asia, the gainers were led by IT firm SIFY Technologies (SIFY), which rose 1.3%, followed by digital entertainment company Sea Limited (SE), and telecommunications provider PLDT (PHI), which were up 0.8% and 0.7% respectively.

Automaker Tata Motors (TTM) led the decliners in South Asia, falling 1.6%, followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY), which dropped 0.7%. Telecommunications provider Telekomunikasi Indonesia (TLK), and HDFC Bank (HDB) were down 0.6% and 0.3% 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: FENG , DQ , CEA , KONE , ZX


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