China Mobile Ltd. (
) 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. (
) fell 2.1% to $47.79 per ADR as the telecom industry posted a
broad decline. ADR decliners included NTT Docomo Inc. (
) -2%, China Unicom Ltd. (
) -1.4% and Nippon Telegraph & Telephone Corp. (
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. (
) +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%.
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