Markets

Asian ADRs Dip Lower in Wednesday's Trading Session

American depository receipts of Asian stocks declined 0.6% to 128.68 Wednesday morning on the Bank of New York Mellon Asia ADR Index.

Hong Kong-based healthcare group Hutchison China Meditech led the decliners in North Asia, falling 5.8% in the day's trading session, followed by semiconductor company Siliconware Precision Industries ( SPIL ), which is down 5.4%. Qunar ( QUNR ), a mobile and online commerce platform for travel in China, declined 2.8%, while Chinese real-estate services provider Leju Holdings ( LEJU ) was off 2.5%.

Airline stocks led the gainers in North Asia as China Eastern Airlines ( CEA ) and China Southern Airlines (XNH) rose 6.7% and 5.8% respectively. Also leading the list of gainers were Bejing-based real-estate internet portal SouFun ( SFUN ), which gained 5.9%, and China Digital TV Holding (STV), a provider of conditional access systems, which increased 5.6%.

In South Asia, Indian automobile manufacturer Tata Motors (TTM) is leading the regional decliners as its ADRs are down just under 6% in today's trading activity. India-based natural resources and mining company Vedanta (VEDL) is falling 3.4%, while Philippine Long Distance Telephone (PHI) and direct-to-home video provider Videocon d2h (VDTH) moved lower by 2.3% and 2.2% respectively.

The only gainers in the South Asia region in Wednesday trading was SIFY (SIFY), an integrated information and communications company, which surged 9.1%, and Internet platform Rediff.com India (REDF), which gained 5.6%.

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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