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Asian ADRs Move Lower in Wednesday Trading


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American depositary receipts of Asian stocks were trading 1.00% lower at 156.06 on the Bank of New York Mellon Asia ADR Index on Wednesday.

In North Asia, the gainers were led by display advertising company Airmedia ( AMCN ), and Cango ( CANG ), an online marketplace for cars, which rose 12% and 3.6% respectively. They were followed by solar panel manufacturer Yingli Green Energy (YGE), and oil and gas company China Petroleum & Chemical ( SNP ), which were up 3.1% and 2.4%.

The decliners in North Asia were led by marketing and branding company Acorn ( ATV ), and mobile applications developer LINE Corp ( LN ), which tumbled 23.7% and19.1% respectively. They were followed by LG Display (LPL), a maker of thin-film-transistor liquid-crystal display panels, and telecommunications operator China Telecom (CHA), which lost 6.9% and 4.2%.

In South Asia, the only gainer was telecommunications provider PLDT (PHI), which climbed 1.1%.

Digital entertainment company Sea Limited (SE) led the decliners in South Asia, falling 2.2%, followed by automaker Tata Motors (TTM), which was off 1.9%. Pharmaceutical firm Dr. Reddy's Laboratories (RDY), and HDFC Bank (HDB) lost 1.6% and 1% respectively.

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: CANG , SNP , ATV , LN



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