NQ Mobile Inc. (
) led declines in American depositary receipts of Asian companies
on Monday after the region's markets were mixed on concern about
armed conflict in Iraq. Those worries helped to keep
at a nine-month high, hurting related shares, but helping lift
The Bank of New York Mellon Asia ADR Index fell 0.14%, compared
with a 2.1% decline for the S&P 500 Stock Index. ADR decliners
led advancers 86 to 60.
NQ Mobile fell 6.7% to $7.41, approaching the two-week low of
$7.25 reached on Friday. The Chinese security software maker has
been the subject of debate about its valuation following an
internal investigation into accounting practices.
Jumei International Holdings Ltd. (
) fell 5.2% to $26.26 per ADR, the lowest in three weeks. The
Chinese online retailer, which went public in May, had risen to an
all-time high of $32.49 on June 9 as Goldman Sachs rated the
company a buy.
Melco Crown Entertainment Ltd. (
) fell 3.9% to $32 per ADR, reversing two days of gains. The
company's stock has fallen on concerns about lower gambling revenue
Asia ADR decliners included Cheetah Mobile Inc. (
) -5.8%, China Distance Education Holdings Ltd. (
) -4.6%, Autohome Inc. (ATHM) -4.3% and Prana Biotechnology Ltd.
Sinopec Shanghai Petrochemical Co. (SHI) gained 4.7% to $28.34,
a two-month high reached with elevated oil prices.
China's solar stocks posted broad gains, such as: Renesola Ltd.
(SOL) +5%, China Sunergy Co. (CSUN) +4.8%, Yingli Green Energy
Holdings Co. (YGE) +2.4% and Hanwha Solarone Co. (HSOL) +1.7%.
China Digital TV Holding Co. (STV) gained 6% to $4.28 per ADR,
easing from a three-year high of $5 reached earlier Monday. The
company gained on Friday after announcing a restructuring
ADR gainers included Chinacache International Holdings Ltd.
(CCIH) +3.5%, Himax Technologies Inc. (HIMX) +4.3% and Sky-Mobi
Ltd. (MOBI) +3.3%.
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