Asia ADRs Decline as Tech Sector Drags

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American depositary receipts of Asian stocks were trading 3.4% lower at 184.42 on the Bank of New York Mellon Asia ADR index on Tuesday.

Decliners in North Asia were led by mobile internet services provider NQ Mobile ( NQ ), down 7.1%; followed by online game developer The9 ( NCTY ), 5.5% lower; media company Phoenix New Media ( FENG ), down 3.9%; and content delivery network provider ChinaCache ( CCIH ), 3.7% lower.

In South Asia, shares of internet company Sea Limited ( SE ) declined 3.7%, while consulting and technology firm Infosys (INFY) shares fell 0.8%.

Gainers in North Asia were led by investment holding company Sky Solar Holdings (SKYS), up 15.7%; followed by online marketing technology company iClick (ICLK), 9.5% higher; provider of computer-based testing services ATA (ATAI), up 7.3%; and producer of corn-based edible alcohol China New Borun (BORN), 6.3% higher.

In South Asia, shares of television services provider Videocon d2h (VDTH) were up 6.7%; Mumbai-based banking group ICICI Bank (IBN) increased 3.2%, automobile manufacturer Tata Motors (TTM) rose 1.6%; while telephone company Telekonunikasi Indonesia (TLK) also gained 1.6%.

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

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This article appears in: Investing , Stocks
Referenced Symbols: NCTY , FENG , CCIH , SE

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