ATA Surges 11% as Asian ADRs Show Broad Gains; Sinopec Rises on Improved Energy Output


ATA Inc. ( ATAI ) jumped to lead gains among American depositary receipts of Asian companies Tuesday after Asian markets rallied. Hong Kong rose to a year-to-date high.

Asian ADRs gained 0.8% on average to the highest since July 7, as measured by the Bank of New York Mellon Asia ADR Index, compared with a 0.5% gain for the S&P 500 Stock Index. Asian ADR advancers led decliners 122 to 30.

ATA surged 11% to $4.69 per ADR after the Chinese provider of educational test services started a joint venture with New Oriental Education & Technology Group Inc. ( EDU ).

New Oriental Education dropped 13% to $21.07 per ADR to lead decliners after an article on examined an enrollment decline and outdated course listings on the company's website.

E-House China Holding Ltd. ( EJ ), a Chinese real estate company, gained 7% to $10.70 per ADR on news reports that several cities loosened property controls. Real estate broker Leju Holdings Ltd. ( LEJU ) rose 5.8% to $12.30 per ADR.

China Petroleum & Chemical Corp. ( SNP ), also known as Sinopec, rose 2.7% to $96.42 per ADR after the state-run energy company reported an increase in output. PetroChina Co. (PTR) rose 2.1% to $135.10 per ADR, while Cnooc Ltd. (CEO) gained 1.7% to $178.29 per ADR.

China Mobile Ltd. (CHL) gained 2% to $54.10 per ADR after subscriber data showed the mobile-phone provider exceeded 10 million 3G customers.

Aluminum Corp. of China Ltd. (ACH) jumped 6.6% to a 14-month high of $10.69 per ADR as prices of the metal approached a 16-month high.

Asia ADR gainers included China Zenix Auto International Ltd. (ZX) +8.6%, Cheetah Mobile Inc. (CMCM) +7.8% and Noah Holdings Ltd. (NOAH) +6.1%.

Asian ADR decliners included Ku6 Media Co. (KUTV) -5.5%, Visionchina Media Inc. (VISN) -1.8% and Silicon Motion Technology Corp. (SIMO) -1.7%.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: ATAI , EDU , EJ , LEJU , SNP

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