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Asian ADRs Move Higher in Friday Trading


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American depository receipts of Asian stocks were trading 0.42% higher at 151.65 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by China Digital TV Holding ( STV ), a provider of conditional access systems, which soared 34.7%, followed by electronics and entertainment giant Sony ( SNE ), which rose 3.6%. Semiconductor company Semiconductor Manufacturing International ( SMI ), and car rental company eHi Car Services ( EHIC ), gained 2.1% and 1.8% each.

The decliners in North Asia were led by internet service provider Internet Initiative Japan ( IIJI ), and aluminum producer Aluminum Corporation of China (ACH), which fell 3.6% and 1.7% respectively. They were followed by solar equipment provider Yingli Green Energy (YGE) and airline operator China Eastern Airlines (CEA), which lost 1.5% and 1.2% each.

In South Asia, the only gainer was Philippines telecommunications firm PLDT (PHI), which rose 0.9%.

Natural resources company Vedanta (VEDL) led the decliners in South Asia, falling 0.8%, followed by automaker Tata Motors (TTM), which dropped 0.7%. Pharmaceutical firm Dr. Reddy's Laboratories (RDY), and ICICI Bank (IBN) lost 0.7% and 0.6% 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: SNE , SMI , EHIC , IIJI



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