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Asian ADRs Edge Lower as Japan's Annual Industrial Production Contracts

American depository receipts of Asian stocks were trading 0.1% lower at 139.88 on the Bank of New York Mellon Asia ADR Index on Monday morning after data showed that annual industrial production in Japan contracted year-on-year in October.

Industrial production in October was 1.4% lower that a year earlier, but was 1.4% higher than in September 2015, marking the second month in a row when the index has increased, according to data published by Japan's Ministry of Economy, Trade And Industry.

As one of the world's top five economies, fluctuations in Japan's industrial production stand to impact equities in global markets.

Decliners in north Asia were led by e-commerce solutions provider Baozun ( BZUN ), 5.5% lower, followed by Vipshop ( VIPS ), an online discount retailer, down by 2.4% and Advanced Semiconductor Engineering ( ASX ), a Taiwanese provider of semiconductor packaging and testing services, 2.2% lower.

In southern Asia, HDFC Bank ( HDB ) was 0.3% lower followed by Telekomunikasi Indonesia ( TLK ), a telecommunications services company in Indonesia, down by 0.1%.

Gainers in north Asia were led by iKang Healthcare Group (KANG), a provider of preventive healthcare solutions, 16.6% higher, followed by Jumei (JMEI), a Chinese online retailer of beauty products, 12.3% higher and Qunar (QUNR), a mobile and online commerce platform, up by 5.9%.

In southern Asia, Vedanta (VEDL), an India-based diversified natural resource major, was 2.6% higher, followed by ICICI Bank (IBN), up by 2.5% and Wipro (WIT), an information technology services provider, trading 2.0% 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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