Markets

Asian ADRs Advance as Solar Stocks Rally

American depository receipts of Asian stocks were trading 0.8% higher at 138.53 on the Bank of New York Mellon Asia ADR Index on Monday morning.

Gainers in north Asia were led by AUO Optronics ( AUO ), a Taiwanese producer of photovoltaic modules and liquid crystal displays, 17.1% higher, followed by ReneSola ( SOL ), a Chinese manufacturer of solar power products, up by 9.3%, and MOMO ( MOMO ), a mobile-based social networking platform, trading 3.6% higher.

In southern Asia, Telekomunikasi Indonesia ( TLK ), a telecommunications services company, was 3.4% higher, followed by Vedanta ( VEDL ), a natural resource major, up by 3.1% and ICICI Bank (IBN), an Indian financial services group, trading 3.1% higher.

Decliners in north Asia were led by LightInTheBox (LITB), a China-based online retail company,14.5% lower, followed by 58.com (WUBA), an online marketplace, down by 3.2%, and Cheetah Mobile (CMCM), a provider of online marketing and web-based security services, trading 2.8% lower.

And, in southern Asia, SIFY (SIFY), an information and communications technology company, was down by 2.9%, followed by MOL (MOLG), a Malaysian e-payment solutions provider, 2.2% lower and Rediff.com (REDF), an Indian internet platform, trading 1.1% 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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