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Asian ADRs Move Lower in Wednesday's Trading Session


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American depository receipts of Asian stocks were down 0.62% at 135.41 Wednesday morning on the Bank of New York Mellon Asia ADR Index.

The decliners in North Asia are led by China Digital TV Holding ( STV ), a provider of conditional access systems, which is falling 9.9% in Wednesday's trading session, followed by Chinese biopharmaceutical firm Beigene Ltd ( BGNE ), which has declined 5.8% so far. Shanghai-based car rental company eHi Car Services Ltd. ( EHIC ) is down 3.8%, and solar park operator Sky Solar Holdings ( SKYS ) is off 3.4%.

Rediff.com India ( REDF ) leads the declining stocks in South Asia, as ADRs of the Mumbai-based internet platform have plunged more than 33%. ICICI Bank (IBN) is shedding 4.6%, while telecommunications company Philippine Long Distance Telephone (PHI) is down 1.82%. India-based natural resources firm Vedanta (VEDL) is declining 1.54%.

Leading the gainers in North Asia is Japan's UBIC (UBIC), a provider of Asian-language eDiscovery solutions, which is surging 16.8% so far in the day's trading session. Chinese steel maker Ossen Innovation (OSN) is rising 2.9%, while Aluminum Corporation of China (ACH) and Chinese online direct sales company JD.com (JD) are up 2.6% and 2.2% respectively.

In South Asia, the gainers are being lead by Indonesian telco Telekomunikasi Indonesia (TLK), which was moving 1.4% higher, followed by Indian pharmaceutical company Dr. Reddy's Laboratories (RDY), up 1.3%. HDFC Bank (HDB) is close behind, gaining 1.2%, as is Indian IT company Wipro (WIT), which is rising 1.1%.

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: BGNE , EHIC , SKYS ,



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