Markets

Asia ADRs Hit One Year High as Advertising and Mobile Game Stocks Surge

American depository receipts of Asian stocks were trading 1.5% higher at 156.05 on the Bank of New York Mellon Asia ADR Index on Wednesday, representing a one year high.

Gainers in North Asia were led by Airmedia ( AMCN ), an operator of out-of-home advertising platforms, 58.1% higher, followed by iDreamSky Technology ( DSKY ), an independent mobile game publishing platform, 12.5% up and SouFun ( SFUN ), a real estate internet portal, which gained 11.8%. Weibo ( WB ), a social media platform, was also 11.5% higher.

In Southern Asia, pharmaceutical company Dr Reddy's Laboratories ( RDY ) lifted 3.2% while Malaysian e-payment solutions provider MOL (MOLG) rose 2.3% and Indonesian telecommunication stock Telekomunikasi Indonesia (TLK) expanded 1.3%.

Infosys (INFY), a services company that provides business consulting, technology, engineering and outsourcing services, was also trading 1.3% higher.

Decliners in North Asia were led by Yingli Green Energy (YGE), a supplier of vertically integrated photovoltaic modules, down 2.6%, followed by SK Telecom (SKM), a provider of wireless communication services, 2.3% lower and Korea Electric Power (KEP), a distributor of electricity, down 2.4%. Solar-power products manufacturer Trina Solar (TSL) was also down 1.8%.

In Southern Asia, Sesa Sterlite (SSLT), an India-based diversified natural resources company, slid by 1.3% while Indian car manufacturer Tata Motors (TTM) fell 0.6% and Rediff.com India (REDF), a provider of online business and consumer offerings fell 0.5%.

WNS Holdings (WNS), a provider of data, voice, analytical and business transformation services, was also 0.3% 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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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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