Asian ADRs Move Higher in Thursday Trading

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American depository receipts of Asian stocks were trading 1.01% higher at 175.62 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by commercial real estate firm China Techfaith Wireless Communication ( CNTF ), which soared 90.1%, followed by ChinaCache ( CCIH ), which surged 15.8%. Kingtone Wirelessinfo Solution ( KONE ), a developer of mobile enterprise solutions, and e-commerce solutions company Baozun ( BZUN ) rose 8.5% and 5.8% respectively.

Decliners in North Asia were led by online game developer The9 ( NCTY ), and ATA (ATAI), a provider of computer-based testing services in China, which fell 3.8% each. They were followed by internet service provider Internet Initiative Japan (IIJI), and online discount retailer Vipshop (VIPS), which were down 3.5% and 1.1% respectively.

In South Asia, the gainers were led by ICICI Bank (IBN), and telecommunications provider Telekomunikasi Indonesia (TLK), which rose 1.8% and 1.7% respectively. They were followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY), and telecommunications company PLDT (PHI), which climbed 1.7% and 1.5%.

IT company SIFY Technologies (SIFY), and mining company Vedanta (VEDL) were the only decliners in South Asia, falling 2.2% and 1.6% respectively.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Stocks
Referenced Symbols: CNTF , CCIH , BZUN , NCTY

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