JD.com Leads Gains Among Asian ADRs After Jefferies Upgrades Online Retailer to Buy

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JD.com Inc. ( JD ) led a broad gain among American depositary receipts of Asian companies Tuesday as the region's markets advanced on improved factory data in China.

The Bank of New York Mellon Asia ADR Index gained 0.8%, compared with a 0.6% gain for the S&P 500 Stock Index. Advancers led decliners 122 to 28.

The final reading of the HSBC/Markit purchasing managers' index rose to 50.7 in June, the highest since November, from 49.4 a month earlier. The preliminary reading for June had been 50.8.


JD.com gained 6.7% to $30.41 per ADR after analysts at Jefferies Group began covering the Chinese online retailer with a buy rating and price target of $36.

Moko Social Media Ltd. (MOKO) rose 3.9% to $7.01 per ADR. The Australian company priced an initial public offering at $7.50 per depositary share and began trading on June 27.

Melco Crown Entertainment Ltd. ( MPEL ) gained 2.1% to $36.47 per ADR, shaking off a report that Macau gambling revenue declined 3.7% in June as the World Cup diverted some betting.

Ctrip.com International Ltd. ( CTRP ) rose 1.2% to $64.80 per ADR, a day after analysts at Deutsche Bank increased their price target on the Chinese travel service to $74 from $58.

Tata Motors Ltd. ( TTM ) advanced 4.1% to $40.64 per ADR as investors shrugged off a report that the carmaker's vehicle sales fell 27% in June from the prior year.

Asia ADR gainers included thinly traded Ubic Inc. ( UBIC ) +6%, apparel maker China Xiniya Fashion Ltd. (XNY) +5.3% and car dealer Autohome Inc. (ATHM) +5.3%.

Asia ADR decliners included thinly traded WSP Holdings Ltd. (WH) -11%, IFM Investments Ltd. (CTC) -3.1% and Lentuo International Inc. (LAS) -2.1%.



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.

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This article appears in: Investing , Commodities

Referenced Stocks: JD , MPEL , CTRP , TTM , UBIC

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