Asian ADRs Rise in Friday's Trading Session

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American depository receipts of Asian stocks rose 1.05% at 138.04Friday morning on the Bank of New York Mellon Asia ADR Index.

In North Asia, the gainers were led by Japanese bank holding company Mitsubishi UFJ Financial ( MTU ), which rose 7.6%. It was followed by Shanghai-based steel company Ossen Innovation ( OSN ), which moved 7.3% higher. Japanese financial services firm Mizuho Financial ( MFG ) and China Digital TV Holding ( STV ) each rose 5.1%.

Leading the gainers in South Asia is Videocon d2h (VVDTH), a direct-to-home video provider, which is rising 3.4%, followed by Indonesian telecommunications provider Telekomunikasi Indonesia ( TLK ), which is up 1.4%. Natural resources company Vedanta (VEDL) rose 1.3% higher, while India automobile manufacturer Tata Motors gained 1.1%.

Decliners in North Asia were led by Chinese Eastern Airlines (CEA), down 5.5%, followed by media company Phoenix New Media (FENG), which declined by just over 3%. Yanzhou Coal Mining (YZC) was down 2.7%, while China Zenix Auto International (ZX), a commercial vehicle wheel manufacturer, lost 2.8%.

In South Asia, leading the decliners was SIFY (SIFY), an information and communications technology company, down 0.74%, followed by Philippine Long Distance Telephone (PHI), off 0.53%. IT company Wipro (WIT) declined 0.49%, while ICICI Bank edged 0.25% lower.

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: OSN , MFG , TLK

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