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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.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



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


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