Asian ADRs Post Broad Gains After Region's Markets Advance; Vimicro Rises on Electronics Bid

By
A A A

American depositary receipts of Asian companies gained Wednesday after the region's markets advanced on stronger Chinese and U.S. factory data. Hong Kong stocks finished trading at an almost seven-month high, while India had a record close.

The Bank of New York Mellon Asia ADR Index gained 0.5%, compared with a flat reading for the S&P 500 Stock Index. Asia ADR advancers led decliners 98 to 47.

Vimicro International Corp. ( VIMC ) gained 4.5% to $2.56 per ADR after winning a bid to provide electronics equipment to the Handan municipal government in China.


Indian stocks rose broadly after remarks by Finance Minister Arun Jaitley were seen as hinting at a prudent fiscal budget next week. Indian ADR gainers included thinly traded Rediff.com India Ltd. ( REDF ) +5.1%, miner Sesa Sterlite Ltd. ( SSLT ) +4.2% and carmaker Tata Motors Ltd. ( TTM ) +3%.

JD.com Inc. ( JD ) held onto Tuesday's gains at $29.71 per ADR. Jefferies had upgraded the Chinese online retailer to a buy rating with a price target of $36.

Asian ADR gainers included 21Vianet Group Inc. (VNET) +5.5%, Ku6 Media Co. (KUTV) +4.8%, Tarena International Inc. (TEDU) +4.2% and Weibo Corp. (WB) +3.8%.

Asian ADR decliners included Elong Inc. (LONG) -5.8%, Autohome Inc. (ATHM) -2.6% and 500.com Ltd. (WBAI) -2.2%.



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: VIMC , REDF , SSLT , TTM , JD

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stocks

Referenced

Most Active by Volume

33,110,376
  • $113.99 ▲ 1.77%
25,034,179
    $17.98 unch
24,486,872
  • $7.41 ▲ 2.07%
20,864,535
  • $7.39 ▼ 2.76%
18,600,501
  • $8.30 ▼ 0.36%
17,530,211
  • $8.14 ▲ 3.17%
17,299,208
  • $93.79 ▲ 2.74%
14,669,760
  • $25.78 ▼ 0.19%
As of 12/26/2014, 04:15 PM


Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com