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.

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This article appears in: Investing , Stocks
Referenced Symbols: JP , JMU

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