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Asian Stocks Follow Broad Global Trend Higher in New York Trade
By: MT Newswires
Asian stocks trading in New York were mostly higher on Friday, following the general U.S. market trend with the Bank of New York Asian index of American depositary receipts up 0.5% to 144.65 in mid morning New York trade.
Of the 11 Japanese issues trading, eight were higher including industrial and telecommunications equipment maker Kyocera ( KYO ) up 1.8% to $45.37, automaker Toyota ( TYO ), up 1.7% to $117.03, and financial solutions provider Orix ( IX ) up 2.9% to $77.10.
Chinese ADRs were again the most active with about 60 changing hands in New York.
NetEase ( NTES ), an Internet and online games provider in China, climbed 1.2 percent to $72.02, real estate services company E-House (EH) rose 3.1% to $13.64 and China Nepstar Chain Drugstore ( NPD ), the retail drugstore chain, jumped 5.9% to $2.16.
Ctrip.com International (CTRP), a travel services company, was a drag on Chinese ADRs falling 0.5% to $49.44, as was photovoltaic products maker Yingli Green Energy (YGE) down 2.4% to $6.14 and China Eastern Airlines (CEA) down 4.4% to $18.50.