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Asian ADRs Move Lower in Thursday Trading


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American depositary receipts of Asian stocks were trading 0.96% lower at 178.43 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, and solar equipment maker ReneSola ( SOL ), which climbed 8.4% and 6.3% respectively. They were followed by mobile applications developer LINE Corp ( LN ), and solar equipment company JinkoSolar ( JKS ), which were up 4.2% and 3.1%.

The decliners in North Asia were led by Huya ( HUYA ), an operator of live game streaming platforms in China, and online video platform iQIYI (IQ), which fell 7.4% and 6.5% respectively. They were followed by Korean financial holding company KB Financial Group (KB), and Yintech Investment (YIN), a provider of investment and trading services in China, which lost 4.9% and 4.4%.

In South Asia, the only gainers were IT firms SIFY Technologies (SIFY), and Infosys (INFY), which were up 1.2% and 0.1% respectively.

Telecommunications providers Telekomunikasi Indonesia (TLK) and PLDT (PHI) led the decliners in South Asia, falling 3.1% and 2.7% respectively. They were followed by digital entertainment company Sea Limited (SE), and mining company Vedanta (VEDL), which dropped 0.9% each.

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: KONE , SOL , LN , JKS , HUYA


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