Markets

Asian ADRs Edge Lower After Disappointing Chinese Production Data

American depository receipts of Asian stocks were 0.5% lower at 130.03 on the Bank of New York Mellon Asia ADR Index on Wednesday morning.

This came after disappointing data from China showing that production declined as total new orders fell. The Flash China General Manufacturing Purchasing Managers' Index (PMI) stood at 47.0 in September, down from 47.3 in August, representing a 78-month low.

Decliners in north Asia were led by Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, 3.7% lower, followed by LG Display ( LPL ), a Korean provider of liquid crystal displays, 2.9% lower and Chinese e-commerce company Alibaba Group ( BABA ), down by 2.0%.

In southern Asia, Indian car manufacturer Tata Motors ( TTM ) slid by 1.6% while pay TV provider Videocon d2h ( VDTH ) contracted by 1.4% and Indonesian telecommunication company Telekomunikasi Indonesia (TLK) slid by 1.2%.

Gainers in north Asia were led by online travel company Tuniu (TOUR), 6.4% higher, followed by semiconductor companies Himax Technologies (HIMX) and Silicon Motion Technology (SIMO), 4.4% and 4.1% higher, respectively.

And, in southern Asia, internet platform Rediff.com (REDF) advanced by 5.0% while information and communications technology solutions company SIFY (SIFY) expanded by 3.5% and pharmaceutical company Dr Reddy's Laboratories (RDY) advanced by 2.2%.

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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