Asians ADRs Rise as Tensions Between Ukraine and Russia Ease


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Asian American Depository Receipts rose on Tuesday amid the generally positive sentiment surrounding Russian President Vladimir Putin's decision to order the Russian military to suspend its exercises off the border of Ukraine.

Russian President Vladimir Putin said there is "no need yet" to use military force in Ukraine and that news offset bearish economic data on UK construction activity and deflationary risks in the Eurozone.

The Bank of New York Asian index of American depositary receipts rose 1.4% to $144.24. Just 18 of 98 Chinese ADRs fell, while one of 17 Japanese ADRS was lower on the day.

Shares of Vipshop Holdings ( VIPS ), an online discount retailer for brands in China, rallied 33.5% to 170.59 with the session peak of $182 a record high. The company reported better-than-expected Q4 earnings late Monday of $0.49 per ADS, compared with the consensus forecast of $0.41, using Capital IQ data, on revenue of $651 million versus the $561.66 million expected.

E-Commerce China Dangdang ( DANG ) stock rose 14% to $16.88, with the earlier session peak of $17.25, a 2-1/2 year high. The business-to-consumer Internet product provider has seen its stock almost double after posting better-than-expected Q4 earnings last week.

The two ADRs were the best performing Chinese issues in early trade in New York.

China Mobile Games & Entertainment Group ( CMGE ) was a drag on the day with its stock falling 10.2% to $32.74. The smartphone game maker reported a Q4 profit but investors focused on the 51% rise in operating costs on a sevenfold increase in advertising costs.

Video game publisher Konami ( KNM ) was the best performing Japanese ADR, climbing 3.6% to $25.63.

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This article appears in: Investing , Commodities
More Headlines for: VIPS , DANG , CMGE , KNM

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