Markets

Asian ADRs Edge Lower as Renewable Energy Stocks' Losses Weigh

American depository receipts of Asian stocks were trading 1.7% lower at 127.91 on the Bank of New York Mellon Asia ADR Index on Monday morning.

Decliners in north Asia were led by photovoltaic cell manufacturers Jinko Solar ( JKS ) and Trina Solar ( TSL ), 5.6% and 5.1% lower, respectively. Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, was 4.2% lower.

In southern Asia, diversified natural resources company Vedanta ( VEDL ) contracted by 5.2% while Indian automobile company Tata Motors ( TTM ) edged 4.9% lower and Malaysian e-payment solutions provider MOL (MOLG) fell by 2.4%.

Gainers in north Asia were led by real estate internet portal SouFun (SFUN), 4.3% higher, followed by New Oriental Education and Technology (EDU), a provider of private educational services, 2.2% higher and semiconductor foundry United Microelectronics (UMC), 1.9% higher.

And, in southern Asia, pharmaceutical company Dr Reddy's Laboratories (RDY) advanced by 3.2%.

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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