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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.

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



This article appears in: Investing , Stocks
Referenced Symbols: OSN , MFG , TLK



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