Asian ADRs Move Higher in Friday Trading

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American depositary receipts of Asian stocks were trading 0.03% higher at 191.68 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by Korean steel maker Ossen Innovation ( OSN ) and travel company Tuniu Corp ( TOUR ), which surged 21.1% and 11.6% respectively. They were followed by online game developer The9 ( NCTY ), and airline operator China Eastern Airlines ( CEA ), which rose 6.3% and 4.6%.

The decliners in North Asia were led by technology company Xunlei ( XNET ), which tumbled 20.9%, followed by mobile Internet company Cheetah Mobile (CMCM), which fell 6.1%. Online financial planning platform Jianpu (JT), and Jumei (JMEI), an online retailer of beauty products, were down 5.9% and 3.8% respectively.

In South Asia, the gainers were led by ICICI Bank (IBN), and digital entertainment company Sea Limited (SE), which fell 1.4% and 1.1% respectively. They were followed by Dr. Reddy's Laboratories (RDY), and natural resources company Vedanta (VEDL), which lost 0.7% and 0.6%.

Direct-to-home video provider Videocon d2h (VDTH) led the decliners in South Asia, falling 11.4%, followed by telecommunications provider PLDT (PHI), which lost 2.1%. IT companies SIFY Technologies (SIFY) and Infosys (INFY) dropped 2% and 1.9% 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: OSN , TOUR , NCTY , CEA , XNET

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