Melco Crown Entertainment Ltd. (
) showed strong gains among American depositary receipts of Asian
companies on Thursday after Macau clarified restrictions on money
transfers in casinos. Asian markets closed higher to follow
Wednesday's gains in the U.S.
The Bank of New York Mellon Asia ADR Index gained 0.1%, compared
with a -0.4% decline for the S&P 500 Stock Index. Asia ADR
advancers led decliners 77 to 70.
Melco Crown gained 3.7% to $35.17 per ADR after Macau said it
told casinos to stop adding new UnionPay payment card terminals in
casinos, not to remove them from jewelry stores and pawnshops in
order to curb illegal money transfers.
Youku Tudou Inc. (
), a Chinese video website operator that produces original
programming, gained 4.4% to $22.95 per ADR as media stocks rose
following a U.S. Supreme Court decision said websites would have to
pay for content as cable providers do.
Asia ADR gainers included 58.com Inc. (
) +7.9%, China Distance Education Holdings Ltd. (
) +6.8%, Leju Holdings Ltd. (
) +6.4% and AU Optronics Inc. (AUO) +5.4%.
Tata Motors Ltd. (TTM) fell 1.6% to $38.76 per ADR after the
Indian carmaker said it had no plans to list another class of
depositary receipts on the New York Stock Exchange. U.K. fund
manager Knight Assets had urged the company to list them in New
York to close a value gap with another class of stock, according to
Kingtone Wirelessinfo Solution Holding Ltd. (KONE), a Chinese
developer of mobile apps, plunged 17% to $5.34 per ADR after
reporting a 0.2% decrease from the prior year in software solution
revenue to $0.18 million.
Asia ADR decliners included Korea Electric Power Corp. (KEP)
-5.9%, WSP Holdings Ltd. (WH) -4.1% and Taomee Holdings Ltd. (TAOM)