Asian ADRs Slide as Chinese Utilities Post Losses


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American depositary receipts of Asian stocks were down 0.62% to 158.82 in U.S. trading Tuesday, according to the BNY Mellon Asia ADR Index.

Decliners in north Asia were led by Sky Solar Holdings ( SKYS ), a developer of solar parks, down 16.4%. SouFun ( SFUN ), an operator of real estate internet portals in China, followed with a 7.2% drop. SPI Energy ( SPI ), a provider of engineering, procurement and construction services, was down 6.7%.

In southern Asia, India-based natural resource major Vedanta ( VEDL ) led decliners, sliding 1.5%. Philippine Long Distance Telephone ( PHI ) , a telecom services provider in the Philippines, followed with a 1.3% drop. India-based IT firm Sify (SIFY) fell 1.0%.

In north Asia, GDS Holdings (GDS), an operator of data centers in China, led gainers with a 7.3% increase. Kingtone Wirelessinfo Solution (KONE), a provider of mobile enterprise solutions, and Chinese online retailer LightInTheBox (LITB) followed, rising 6.7% and 3.7%, respectively.

Gainers in southern Asia were led by Indian auto maker Tata Motors (TTM), up 1.8%. Infosys (INFY), a provider of business consulting, IT services, followed with a 0.7% increase.

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: SKYS , SFUN , SPI , VEDL , PHI


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