Rediff.com India Ltd. (
) declined alongside American depositary receipts of Asian
companies after reporting Q4 results. Asian ADRs fell broadly as
U.S. stocks retreated from Monday's record close.
The Bank of New York Mellon Asia ADR Index slipped 0.1%,
compared with a 0.2% slide for the S&P 500 Stock Index.
Rediff.com fell 6.4% to $2.37 per ADR after reporting a 4%
decline in Q4 revenue to $4 million. Analyst estimates weren't
available for the Indian website operator.
Prima Biomed (
) fell 10% to $1.24 per ADR, the second day of declines after the
Australian biotech firm reported interim survival data on a
treatment for ovarian cancer. Australian drug companies Prana
Biotechnology Ltd. (
) -7.3% and Genetic Technologies Ltd. (
) -3.7% also fell.
Melco Crown Entertainment Ltd. (
) fell 4.4% to $34.05 per ADR as casino operators declined after
data showed gambling revenue growth slowed in May.
Ossen Innovation Co. (OSN) retreated from earlier gains to eke
out a 0.7% rise to $0.82 per ADR. The Chinese specialty steelmaker
on Monday said it received a contract to supply cables for the
construction of five bridges in South Korea. The contract size
ADR decliners included Cheetah Mobile Inc. (CMCM) -6.6%, IFM
Investments Ltd. (CTC) -6.4%, Bitauto Holdings Ltd. (BITA) -5.6%
and WSP Holdings Ltd. (WH) -5%.
Advancers included Sesa Sterlite Ltd. (SSLT) +5.1%, Concord
Medical Services Holding Ltd. (CCM) +4.1%, Mechel OAO (MTL) +4.1%
and Banco Macro SA (BMA) +4.1%.
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