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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.

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



This article appears in: Investing , Stocks
Referenced Symbols: OSN , TOUR , NCTY , CEA , XNET


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