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Asian ADRs Edge Higher as Solar Stocks, Banks See Mixed Fortunes

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American depository receipts of Asian stocks were 0.37% higher at 142.17 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Gainers in north Asia were led by Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities in China, 7.7% higher, followed by China Online Education ( COE ), up by 6.6% and SPI Energy ( SPI ), a provider of photovoltaic solutions, 6.2% higher.

In southern Asia, Vedanta ( VEDL ), an India-based diversified natural resource major, was 3.9% higher, followed by ICICI Bank ( IBN ), up by 1.8% and telecommunications company Telekomunikasi Indonesia (TLK), 1.6% higher.

Decliners in north Asia were led by ReneSola (SOL), a Chinese manufacturer of solar power products, 6.3% lower, followed by China Techfaith Wireless Communications (CNTF), a developer, owner and operator of commercial real estate properties, down by 3.8% and JinkoSolar (JKS), a manufacturer of solar modules, 3.6% lower.

And, in southern Asia, Wipro (WIT), an Indian information technology services provider, was 1.1% lower, followed by SIFY Technologies (SIFY), an Indian information and communications technology company, down by 1.0% and HDFC Bank (HDB), 0.7% 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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