Markets

Asian ADRs Advance as E-Commerce Stocks Log Modest Gains

American depository receipts of Asian stocks were trading 0.1% higher at 141.87 on the Bank of New York Mellopn Asia ADR Index around midday on Monday.

Gainers in north Asia were led by NQ Mobile ( NQ ), a provider of mobile internet services in China, 4.7% higher, followed by JD.com ( JD ), an online direct sales company, up by 3.2% and CTrip.com International ( CTRP ), a travel service provider, trading 3.4% higher. Jumei ( JMEI ), an online retailer of beauty products, was also 2.9% higher.

In southern Asia, SIFY ( SIFY ), an Indian information and communications technology company, advanced by 4.1% while Malaysian e-payment solutions provider MOL (MOLG) rose by 3.4% and Pay-TV operator Videocon d2h (VDTH) edged up by 2.6%. ICICI Bank (IBN) was 1.4% higher.

Decliners in north Asia were led by Qunar (QUNR), a mobile and online commerce platform, 8.1% lower, followed by China Ming Yang Wind Power (MY US), a wind turbine manufacturer, 5.4% lower and MOMO (MOMO), a mobile-based social networking platform, down by 3.7%.

And, in southern Asia, Indian internet platform Rediff.com India (REDF) edged lower by 2.1% while WNS (WNS), a business process management company, contracted by 2.1% and Philippine Long Distance Telephone (PHI), a telecommunications services provider in the Philippines, was 1.3% lower. Tata Motors (TTM), an automobile company, contracted by 1.2%.

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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