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Asian ADRs Move Lower in Thursday Trading


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American depositary receipts of Asian stocks were trading 0.45% lower at 162.94 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by financial technology company Pintec ( PT ) and Cango ( CANG ), an online marketplace for cars, which climbed 14.5% and 7.3% respectively. They were followed by polysilicon manufacturer Daqo New Energy ( DQ ) and airline operator China Southern Airlines ( ZNH ), which rose 7.2% and 6.3%.

The decliners in North Asia were led by online discount retailer Vipshop ( VIPS ) and wearable device maker Huami (HMI), which fell 11.4% and 5.3% respectively. They were followed by technology company NetEase (NTES) and 58.com (WUBA), a provider of online classifieds and listing platforms, which lost 4.5% and 4%.

In South Asia, the gainers were led by automaker Tata Motors (TTM) and ICICI Bank (IBN), which rose 1.9% and 1.5% respectively. They were followed by mining company Vedanta (VEDL) and biotech firm ASLAN (ASLN), which were up 1% and 0.9%.

Digital entertainment company Sea Limited (SE) led the decliners in South Asia, falling 2.1%, followed by IT companies Sify Technologies (SIFY) and Infosys (INFY), which dropped 1.2% each. Telecommunications operator Telekomunikasi Indonesia (TLK) was off 0.7%.

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: PT , CANG , DQ , ZNH , VIPS



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