Asian ADRs Move Lower in Monday Trading

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American depositary receipts of Asian stocks were trading 0.99% lower at 179.18 on the Bank of New York Mellon Asia ADR Index on Monday.

In North Asia, the gainers were led by Korean steel company Ossen Innovation ( OSN ), which soared 22.6%, followed by semiconductor company Advanced Semiconductor Engineering ( ASX ), which climbed 2.9%. Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, and online financial planning platform Jianpu ( JT ) rose 2.7% and 2.3% respectively.

The decliners in North Asia were led by software firm Gridsum ( GSUM ), which declined 5%. Wealth management firm Noah Holdings (NOAH), and real estate services provider Leju Holdings (LEJU), fell 4.9% and 1.8% respectively. Meanwhile, China Rapid Finance (XRF) dropped 3.3%.

In South Asia, the gainers were led by IT companies Infosys (INFY), and Wipro (WIT), which increased 3.2% and 3.1% respectively, while telecommunications provider Telekomunikasi Indonesia (TLK), and IT firm SIFY Technologies (SIFY) were up 1.0% and 0.5%.

Automobile manufacturer Tata Motors (TTM) led the decliners in South Asia, falling 2.5%, followed by telecommunications provider PLDT (PHI), which was off 1.3%. Digital entertainment company Sea Limited (SE), and ICICI Bank (IBN) dropped 0.3% and 0.1%.

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 , ASX , JT , GSUM

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