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Asians ADRs Rally in Face of Ukraine/Russia Tensions

By: MT Newswires
Posted: 3/11/2014 11:25:00 AM
Referenced Stocks: BONA;FENG;EJ;UBIC;ATE

Asian American Depositary Receipts rose on Tuesday though investors remained cautious amid ongoing Ukraine/Russia tensions.

Russia is consolidating control of Ukraine's Crimean peninsula, home to its Black Sea naval fleet, even as the European Union and U.S. warn of sanctions if Russia does not reverse course.

Asian American Depository Receipts rose 0.1% to 143.36. Advancing China-based issues outpaced decliners by two to one though Japanese ADRS saw declining issues outpace those advancing by two to one.

Biggest gainers from China were CNInsure (CSIG), up 9.4% to $8.52, Bona Film ( BONA ), up 7.1% to $7.80, and Phoenix New Media ( FENG ), up 4.6% to $12.85.

Real-estate services company E-House ( EJ ) ADRS rose 0.6% to $15.83 after it reported better-than-expected Q4 financial results and fiscal 2014 revenue guidance, while maintaining its quarterly cash dividend rate.

China Ming Yang Wind Power (MY US) was the biggest Chinese loser in the first hour of trading, falling 6.5% to $3.59.

The biggest declining Japanese issue was computer forensics services provider UBIC ( UBIC ) down 2.4% to $9.76, followed by Advantest ( ATE ), a semiconductor and component test system maker and seller, down 1.8% to $10.33.