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Asian ADRs Down Despite Large Gains in Mobile Platform Stocks

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Depository receipts of Asian stocks were down 0.04% to 154.28 in the morning session on Thursday, according to the Bank of New York Mellon Asia ADR Index. The marginal contraction came in spite of large increases in Asia's mobile gaming industry.

North Asian gainers were led by China Mobile Games and Entertainment ( CMGE ), a publisher and developer of mobile games, which was up 10.70%. It was followed by online financial information company China Finance Online ( JRJC ), which was up 7.31%, and mobile game publishing platform, iDreamSky Technology ( DSKY ), which expanded 6.71%.

In South Asia, Indian automotive manufacturing company Tata Motors ( TTM ) was up 0.94% and Rediff.com India ( REDF ), an Indian news, information and shopping web portal, lifted 0.83%.

North Asian decliners were led by online marketplace 58.com (WUBA), which contracted 6.15%, followed by Bitauto (BITA), a provider of internet content and marketing services, which was down 1.86%.

In South Asia, Hyderabad-based pharmaceutical company Dr Reddy's Laboratories (RDY), saw the biggest drop, sliding 1.45%. WNS Holdings (WNS), a business process management company, slid 0.91% and Mumbai-based banking and financial services company, HDFC Bank (HDB) was down 0.88%.

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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