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Asian ADRs Advance as Japan's Manufacturing Sector Shows Marked Improvement in Nov.

American depositor receipts of Asian stocks were trading 1.1% higher at 142.02 on the Bank of New York Mellon Asia ADR Index on Tuesday morning as manufacturing output growth accelerated to a 20-month high.

The Nikkei Japan Manufacturing Purchasing Managers' Index (PMI) posted at 52.6 in November, up from 52.4 in October, indicating a marked improvement in operating conditions at Japanese manufacturers.

Both production and new orders increased, with the former expanding at the fastest rate since March 2014.

Gainers in north Asia were led by MOMO ( MOMO ), a mobile-based social networking platform, 5.0% higher, followed by Jumei ( JMEI ), a Chinese online retailer of beauty products, 4.1% higher and Advanced Semiconductor Engineering ( ASX ), a Taiwanese provider of semiconductor packaging and testing services,

trading 3.5% higher.

In southern Asia, MOL ( MOLG ) was 6.0% higher, followed by Rediff.com ( REDF ), up by 3.8% and Vedanta (VEDL), trading 3.6% higher.

Decliners in north Asia were led by The9 (NCTY), an online games developer in China, 9.6% lower, followed by NQ Mobile (NQ), a provider of mobile internet services, down by 8.6% and Cheetah Mobile (CMCM), a provider of online marketing, internet and web-based security services, 2.8% lower.

And, in southern Asia, car-maker Tata Motors (TTM) was 1.8% lower, followed by Wipro (WIT), an information technology services provider, down by 1.7% and Videocond2h (VDTH), a pay TV company, trading 1.2% 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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