Elong Inc. (
) led declines among American depositary receipts of Asian
companies Monday as the region's markets fell. Japanese stocks
retreated from five-month highs as the yen strengthened against the
The Bank of New York Mellon Asia ADR Index fell 0.4%, compared
with a 0.2% decline for the S&P 500 Stock Index. Asian ADR
decliners led advancers 99 to 58.
Elong, a Chinese online travel website, fell 6.4% to $20.23
after Expedia Inc. (
) said Chinese media reported "inaccurate rumors" about its
ownership stake in Elong. "Expedia remains a long-term investor in
eLong and supports eLong's drive to become the leading Chinese
travel site," Expedia said in a statement.
Cnooc Ltd. (
) fell 3.8% to $175.48 per ADR as
fell below $104 a barrel to a one-month low as Libya was expected
to resume oil exports.
Asian ADR decliners included Sify Technologiest Ltd. (
) -1.5%, Himax Technologies Inc. (
) -3% and Melco Crown Entertainment Ltd. (MPEL) -3%.
Genetic Technologies Inc. (GENE) surged 16% to $1.19 per ADR
after gene test sample reached volumes achieved in late 2013.
Infosys Ltd. (INFY) gained 3% to $55.34 per ADR as Indian stocks
rose to a third consecutive high. The software services company
will release Q1 earnings results on July 11.
Asia ADR gainers included Soufun Holdings Ltd. (SFUN) +6%,
Telekomunikasi Indonesia (TLK) +5.6% and Semiconductor
Manufacturing International Corp. (SMI) +5.8%.
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