China Mobile Declines as Asian ADRs Show Broad Retreat; Factory Data Help Lift Materials Industry

By
A A A

China Mobile Ltd. ( CHL ) fell alongside American depositary receipts of Asian companies Monday after the region's markets closed mixed. Hong Kong's Hang Seng Index fell 1.7% as telecommunications companies reversed earlier gains following positive Chinese factory data.

The HSBC Markit Flash China Manufacturing Purchasing Managers' Index rose to 50.8 in June from May's final reading of 49.4, beating the consensus estimate of 49.7.

The Bank of New York Asia ADR Index fell 0.7%, compared with a flat reading for the S&P 500 Stock Index. Asia ADR decliners led advancers 93 to 59. China Mobile Ltd. ( CHL ) fell 2.1% to $47.79 per ADR as the telecom industry posted a broad decline. ADR decliners included NTT Docomo Inc. ( DCM ) -2%, China Unicom Ltd. ( CHU ) -1.4% and Nippon Telegraph & Telephone Corp. ( NTT ) -1.3%.

Chinese online retailers recovered from Friday's declines seen on investor concern that a government crackdown on counterfeit goods would affect merchandise sales. Monday's improved performers included E-Commerice China Dangdang Inc. ( DANG ) +4.3%, Jumei International Holding Ltd. (JMEI) +4.1% and JD.com Inc. (JD) +2.9%.

BHP Billiton Ltd. (BHP) rose 1.7% to $69.14 on the improvement in Chinese manufacturing data. Materials industry gainers included Ossen Innovation Co. (OSN) +7.4%, Sesa Sterlite Ltd. (SSLT) +2% and Posco (PKX) +1.1%.

Asian ADR gainers included Tarena International Inc. (TEDU) +4.1%, China Ming Yang Wind Power Group Ltd. (MY) +3.4%, China Digital TV Holding Co. (STV) +3.4%.



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: CHL , DCM , CHU , NTT , DANG

MT Newswires

MT Newswires

More from MT Newswires:

Related Videos

Stuck
Stuck                               
Yoga Surfer
Yoga Surfer                         

Stocks

Referenced

Most Active by Volume

89,851,277
  • $17.05 ▲ 0.12%
61,694,953
  • $39.05 ▲ 1.03%
61,622,467
  • $102.64 ▲ 1.56%
56,476,509
  • $3.48 ▼ 1.14%
49,282,352
  • $5.31 ▲ 3.91%
37,301,083
  • $87.17 ▼ 3.03%
36,192,897
  • $78.29 ▲ 1.94%
33,401,171
  • $38.83 ▼ 1.89%
As of 9/23/2014, 04:15 PM

Find a Credit Card

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