Vimicro Leads Gains Among Asian ADRs on Government Contract; NQ Mobile Plunges as Audit Head Quits


Vimicro International Corp. ( VIMC ) led gains among American depositary receipts of Asian companies Thursday, while the region's markets were mixed.

Japanese stocks ended the session down for the first time in three days. U.S. stocks rose on a holiday-shortened week following a stronger-than-expected jobs report.

The Bank of New York Asia ADR Index gained 0.07%, compared with a 0.3% gain for the S&P 500 Stock Index. Decliners led advancers 78 to 70.

Vimicro gained 11% to $3.14 per ADR, the second day of gains after the Chinese electronics maker won a government supply contract.

Tuniu Corp. ( TOUR ) rose 5.6% to $17.44 per ADR for its second day of gains after announcing James Liang, chief executive officer of online travel company International Ltd. ( CTRP ), joined the board of directors of the Chinese marketer of packaged tours.

Elong Inc. ( LONG ) gained 4.4% to $21.65 per ADR after an unconfirmed report that planned to buy a stake in the rival online travel company.

Tata Motors Ltd. ( TTM ) rose 2.6% to $42.22 per ADR after shareholders a rejected a plan to pay three board members more than legal limits.

Asian ADR gainers included Tarena International Inc. (TEDU) +6%, Mecox Lane Ltd. (MCOX) +3% and China Eastern Airlines Corp. (CEA) +2.7%.

NQ Mobile Inc. (NQ) plunged 31% to $4.67 after the Chinese maker of mobile apps announced changes to board of directors as the head of its audit committee resigned.

Weibo Corp. (WB) fell 4.6% to $20.99 per ADR as a university study showed that China's government censored the video website more heavily on July 1, the date of a pro-democracy march in Hong Kong.

Asian ADR decliners included Chinacache International Holdings Ltd. (CCIH) -5.9%, China Digital TV Holding Co. (STV) -4.5% and Inc. (JD) -4%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

Copyright (C) 2014 All rights reserved. Unauthorized reproduction is strictly prohibited.

This article appears in: Investing , Commodities

Referenced Stocks: VIMC , TOUR , CTRP , LONG , TTM

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