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Asian ADRs Move Lower in Tuesday Trading


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American depositary receipts of Asian stocks were trading 0.35% lower at 177.77 on the Bank of New York Mellon Asia ADR Index on Tuesday.

In North Asia, the gainers were led by mobile app company Cheetah Mobile ( CMCM ), and casino and resort operator Melco Resorts & Entertainment ( MLCO ), which rose 6% and 5.7% respectively. They were followed by entertainment and electronics company Sony ( SNE ), and solar equipment company ReneSola ( SOL ), which were up 4.6% and 4%.

The decliners in North Asia were led by consumer lending company China Rapid Finance ( XRF ), and outdoor display advertising company Airmedia (AMCN), which lost 5.9% and 5.5% respectively. They were followed by Aurora Mobile (JG), a data collecting and analytics platform, and bank holding company Sumitomo Mitsui Financial (SMFG), which were off 5.4% and 4.9%.

In South Asia, the gainers were led by pharmaceutical firm Dr. Reddy's Laboratories (RDY), and digital entertainment company Sea Limited (SE), which climbed 2.4% and 1.2% respectively. They were followed by biotech firm ASLAN (ASLN), and IT company Infosys (INFY), which were up 1.1% each.

Telecommunications provider Telekomunikasi Indonesia (TLK) led the decliners in South Asia, falling 8.9%, followed by automaker Tata Motors (TTM), which shed 5.1%. IT services firm Wipro (WIT), and telecommunications operator PLDT (PHI) were down 1% and 0.6% respectively.

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

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.



This article appears in: Investing , Stocks
Referenced Symbols: CMCM , MLCO , SNE , SOL , XRF



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