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Asian ADRs Edge Lower in Wednesday Trading


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American depository receipts of Asian stocks were trading 0.1% lower at 141.73 on the Bank of New York Mellon Asia ADR Index on Wednesday.

In North Asia, the gainers were led by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, and Chinese financial services provider CNInsure ( CISG ), which rose 3.6% and 3%, respectively. They were followed by wealth management firm Jupai Holdings ( JP ), and China Digital TV Holding ( STV ), a provider of conditional access systems in China, which rose 2.8% and 2.5%, respectively.

The decliners in North Asia were led by Wowo Ltd ( JMU ), an online platform for providing B2B services to the food industry, and internet service provider Internet Initiative Japan (IIJI), which dropped 3.9% and 3.1%, respectively. Bank holding company Mitsubishi UFJ Financial (MTU), and electronics company Kyocera (KYO) followed, closing 1.8% and 1.5% lower, respectively.

In South Asia, the gainers were led by ICICI Bank (IBN), which gained 2%, followed by automobile manufacturer Tata Motors (TTM), which was up 1.1%. Pharmaceutical company Dr. Reddy's Laboratories (RDY) and HDFC Bank (HDB) rose 1% and 0.5%, respectively.

IT services firm SIFY (SIFY) led the decliners in South Asia, falling 0.9%, and was followed by Indonesian telecommunications company Telekomunikasi Indonesia (TLK), and IT company Infosys (INFY), which were off 0.5% and 0.4%, respectively.

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: KONE , JP , JMU


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