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Asian ADRs Climb as Shares in China Techfaith Wireless Communication Surge

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American depository receipts of Asian stocks were 1.1% higher at 128.46 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Gainers in north Asia were led by China Techfaith Wireless Communication ( CNTF ), a developer of commercial real estate properties, 16.4% higher, followed by 51jobs ( JOBS ), a provider of integrated human resource services, up by 12.8% and Hong Kong Television Network Limited ( HKTVY ), a provider of multimedia production and content distribution, 13.2% higher. 51jobs reported late Wednesday Q4 results that topped estimates but ts outlook was mixed.

In southern Asia, Vedanta ( VEDL ), a natural resource major, was 8.8% higher, followed by automobile company Tata Motors ( TTM ), up by 7.5% and MOL (MOLG), a Malaysian e-payment solutions provider, trading 5.3% higher.

Decliners in north Asia were led by Solar Sky (SKYS), an independent power producer, down by 4.9%, followed by Noah Holdings (NOAH), a China-based wealth management service provider, down by 4.6% and China Eastern Airlines (CEA), an air carrier, 3.0% lower.

And, in southern Asia, HDFC Bank (HDB), a provider of banking and financial services, was down by 1.5% and WNS Holdings (WNS), a business process management company, was 0.8% lower.

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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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