Markets

Asian ADRs Edge Higher as Web-based Stocks Advance

American depository receipts of Asian stocks were trading 0.6% higher at 123.97 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Gainers in north Asia were led by JD.com ( JD ), a Chinese online direct sales company, 5.0% higher, followed by Jumei ( JMEI ), an online retailer of beauty products, 4.4% higher, and Himax Technologies ( HIMX ), a fabless semiconductor solution provider, trading 3.2% higher. Himax beat Q4 estimates and guided Q1 above Street views.

In southern Asia, Vedanta ( VEDL ), a natural resource major, was 8.1% higher, followed by Videocond2h ( VDTH ), an Indian pay TV company, up by 5.0% and Telekomunikasi Indonesia (TLK), a telecommunications services company, trading 2.2% higher.

Decliners in north Asia were led by TAL Education (XRS), a provider of after-school tutoring programs, 2.4% lower, followed by China Life Insurance (LFC), a life insurance company, down by 2.0%, and Nippon Telegraph and Telephone (NTT), a provider of fixed and mobile voice related services, down by 1.7%.

And, in southern Asia, Rediff.com (REDF), an internet platform, was 3.2% lower, followed by WNS Holdings (WNS), a business process management company, down by 2.3% and ICICI Bank (IBN), 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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