JD.com Inc. (
) 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. (
) 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
Ctrip.com International Ltd. (
) 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. (
) 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
Asia ADR gainers included thinly traded Ubic Inc. (
) +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%.
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