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Asian ADRs Advance as China Finance Online Shares Surge 38 Per Cent

American depository receipts of Asian stocks were trading 1.2% higher at 139.02 on the Bank of New York Mellon Asia ADR Index on Wednesday morning.

Gainers in north Asia were led by China Finance Online ( JRJC ), a web-based financial services company, 37.5% higher, followed by solar panel manufacturers Yingli Green Energy ( YGE ) and ReneSola ( SOL ), trading 10.5% and 2.2% higher, respectively. China Finance Online Co ( JRJC ) said Q3 sales were $37.0 million, an increase of 74.8% year-over-year. Net income attributable to China Finance Online was $9.7 million, up from a

net loss of $2.4 million a year ago. Fully diluted earnings per ADS was $0.39, up from a loss of $0.11 last year.

In southern Asia, Telekomunikasi Indonesia ( TLK ), a telecommunications services company, was 3.1% higher, followed by Dr Reddy's Laboratories ( RDY ), a pharmaceutical company, up by 2.1% and Tata Motors (TTM), an Indian automobile company, trading 2.0% higher.

Decliners in north Asia were led by Siliconware Precision Industries (SPIL), a provider of semiconductor packaging and testing services, 4.4% lower, followed by Qunar (QUNR), a mobile and online commerce platform, down by 2.5% and Cheetah Mobile (CMCM), a provider of online marketing, internet and web-based security services, trading 2.0% lower.

And, in southern Asia, Rediff.com India (REDF), an internet platform, was down by 1.0%, followed by Wipro (WIT), an information technology services provider, 0.8% 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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