Jumei International Leads Declines Among Chinese ADRs on Concern About Counterfeit Crackdown

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Jumei International Holding Ltd. ( JMEI ) was one of the biggest decliners Friday among American Depositary Receipts of Asian companies, as investors worried that a government crackdown on counterfeit goods would negatively affect retailers.

The region's markets were mixed as Chinese markets rose slightly while Japan edged downward.

The Bank of New York Mellon Asia ADR Index fell 0.4%, compared with a 0.2% gain for the S&P 500 Stock Index. Asian ADR decliners led advancers 95 to 54.


Jumei International Holding Ltd. ( JMEI ) fell as much as 9% to hit a three-week low of $23.30 per ADR. The Chinese cosmetics website, which went public in May, was given an outperform rating and price target of $35 by Oppenheimer on Wednesday.

Chinese retailers posting decline included E-Commerce China Dangdang Inc. ( DANG ) -6% and Vipshop Holdings Ltd. ( VIPS ) -3.9%.

Asia's ADR decliners included Kingtone Wirelessinfo Solution Holding Ltd. ( KONE ) -7.4%, China Digital TV Holding Co. ( STV ) -5.5% and Cheetah Mobile Inc. (CMCM) -5.3%.



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: JMEI , DANG , VIPS , KONE , STV

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