Markets

Asian ADRs Edge Up as Solar Stocks Shine

American depository receipts of Asian stocks were trading 0.1% higher at 157.35 on the Bank of New York Mellon Asia ADR Index on Wednesday.

Gainers in north Asia were led by online discount retailer Vipshop ( VIPS ), up 4.3%. Renewable energy companies JinkoSolar ( JASO ) and Yingli Green Energy ( YGE ) gained 2.9% and 2.3% respectively while Jumei ( JMEI ), an online retailer of beauty products, was up by 2.7%.

In southern Asia, Malaysian e-payment solutions provider MOL ( MOLG ) rose by 4.7% while internet services provider SIFY (SIFY) jumped 2.3% and telecommunication company Telekomunikasi Indonesia (TLK) expanded by 1.6%. Indian car manufacturer Tata Motors (TTM) was 1.3% higher.

Decliners in north Asia were led by medical devices manufacturer Mindray Medical International (MR), down 2.4%, followed by banking business Sumitomo Mitsui Financial (SMFG), down 2.1% and 58.com (WUBA), an online marketplace, 2.1% lower. Internet company Qihoo 360 Technology (QIHU) was also trading 1.5% lower.

In southern Asia, Indian TV service Videocond2h (VDTH) was down by 0.1%.

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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