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Asian ADRs Edge Lower as E-Commerce Stocks Retreat

American depository receipts of Asian stocks were trading 1.9% lower at 135.72 on the Bank of New York Mellon Asia ADR Index on Friday morning.

Decliners in north Asia were led by Alibaba Group ( BABA ), a Chinese provider of online and mobile commerce, 4.2% lower, followed by NetEase ( NTES ), an online forum operator, down by 3.3% and CTrip.com International ( CTRP ), a travel service provider for hotel accommodation, trading 3.0% lower. Alibaba bought the English-language newspaper South China Morning Post and other media assets of SCMP Group Limited.

In southern Asia, ICICI Bank ( IBN ) was 5.6% lower, followed by car manufacturer Tata Motors ( TTM ), down by 5.5% and Telekomunikasi Indonesia (TLK), a telecommunication company, trading 3.1% lower.

Gainers in north Asia were led by Canacord Medical Services (CCM), an operator of radiotherapy and diagnostic imaging centers in China, 11.2% higher, followed by Siliconware Precision Industries (SPIL), a provider of semiconductor packaging and testing services, up by 5.2% and Ku6 Media (KUTV), an online video business, trading 4.1% higher.

And, in southern Asia, SIFY (SIFY), an information and communications technology company, was 2.9% higher, followed by Videoncon d2h (VDTH), a pay TV company, up by 0.8%.

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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