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Asian ADRs Move Lower in Monday Trading


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American depositary receipts of Asian stocks were trading 0.09% lower at 163.50 on the Bank of New York Mellon Asia ADR Index on Monday.

In North Asia, the gainers were led by online game publisher The9 ( NCTY ), which surged 10.9%, followed by educational services provider New Oriental Education & Technology ( EDU ), which climbed 4.4%. Social network company Mogu Inc. ( MOGU ) and Fang Holdings ( SFUN ) were up 3.3% and 3.2% respectively.

The decliners in North Asia were led by software firm Gridsum ( GSUM ), and video sharing service iQIYI (IQ), which lost 16.3% and 5.5% respectively. They were followed by media company Phoenix New Media (FENG), which was off 4.3%.

In South Asia, the gainers were led by biotech firm ASLAN (ASLN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which rose 5.1% and 2.6% respectively. They were followed by IT company SIFY Technologies (SIFY) and telecommunications operator Telekomunikasi Indonesia (TLK), which were up 2.2% and 0.6%.

Telecommunications operator PLDT (PHI), IT firm Wipro (WIT), and automaker Tata Motors (TTM) led the decliners in South Asia, falling 1.4%, followed by mining company Vedanta (VEDL), which was off 1.2%.

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: NCTY , EDU , MOGU , SFUN , GSUM




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