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Asian ADRs Edge Lower as Renewable Energy Stocks See Mixed Fortunes

American depository receipts of Asian stocks were trading 0.6% lower at 139.58 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Decliners in north Asia were led by Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, 3.0% lower, followed by Jinko Solar ( JKS ), a manufacturer of solar modules, down by 3.7% and Vipshop ( VIPS ), an online discount retailer, trading 3.0% lower.

In southern Asia, Videocon d2h ( VDTH ), a pay TV company, was 1.0% lower, followed by car manufacturing major Tata Motors ( TTM ), down by the same amount and Vedanta (VEDL), a natural resource company, trading 0.2% lower.

Gainers in north Asia were led by China Ming Yang Wind Power (MY US), a wind turbine manufacturer, up by 5.3%, followed by Bitauto (BITA), a provider of internet content and marketing services, 5.2% higher and Jumei (JMEI), a Chinese online retailer of beauty products, up by 4.2%.

And, in southern Asia, Rediff.com (REDF), an internet platform, was up by 5.1%, followed by Philippine Long Distance Telephone (PHI), a telecommunications services provider, 0.4% 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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