Markets

Asian ADRs Edge Lower as Chinese E-Commerce Stocks Slide

American depository receipts of Asian stocks were trading 0.4% lower at 140.06 on the Bank of New York Mellon Asia ADR Index on Friday morning.

Decliners in north Asia were led by Baozun ( BZUN ), a provider of e-commerce solutions, 6.1% lower, followed by Jumei ( JMEI ), a Chinese online retailer of beauty products, down by 5.0% and NetEase ( NTES ), a provider of online games, e-commerce, email and advertising services, 4.5% lower.

In southern Asia, Dr Reddy's Laboratories ( RDY ), an Indian pharmaceutical company, was 6.0% lower, followed by SIFY ( SIFY ), an information and communications technology company, down by 0.9% and Vedanta (VEDL), a natural resource major, trading 0.5% lower.

Gainers in north Asia were led by online games developer The9 (NCTY), 11.2% higher, followed by Qunar (QUNR), a mobile and online commerce platform, up by 3.0% and Yingli Green energy (YGE), a Chinese solar panel manufacturer, trading 1.5% higher.

And, in southern Asia, MOL (MOLG), a Malaysian e-payment solutions provider, was 12.9% higher, followed by Rediff.com India (REDF), an Indian internet platform, up by 6.9% and Tata Motors (TTM), an automobile company, trading 4.5% higher.

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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