Markets

Asian ADRs Flat in Wednesday Trading

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American depository receipts of Asian stocks were trading unchanged at 143.63 on the Bank of New York Mellon Asia ADR Index on Wednesday.

In North Asia, the gainers were led by Chinese marketing and branding company Acorn ( ATV ), and Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, which surged 7.7% and 6%, respectively. They were followed by a Chinese mobile Internet company Cheetah Mobile ( CMCM ), and bank holding company Mitsubishi UFJ Financial ( MTU ), which rose 3% and 2.8%, respectively.

The decliners in North Asia were led by semiconductor company Semiconductor Manufacturing International ( SMI ), which fell 7.5%, followed by Jumei (JMEI), an online retailer of beauty products, which lost 4.6%. Social media platform Weibo Corporation (WB) and advertising company VisionChina Media (VISN) dropped 3.8% and 3.6%, respectively.

In South Asia, the gainers were led by Indian automobile manufacturer Tata Motors (TTM), which rose 1.7%. IT services firm SIFY (SIFY) increased 0.9%, while WNS Holdings (WNS), a provider of business process management services, and Indonesian telecommunications company Telekomunikasi Indonesia (TLK) were up 0.6% and 0.4%, respectively.

Indian natural resources company Vedanta (VEDL) led the decliners in South Asia, falling 2.2%, followed by Philippine Long Distance Telephone (PHI), and direct-to-home video provider Videocon d2h (VDTH), which were down 0.6% and 0.3%, respectively. Pharmaceutical company Dr. Reddy's Laboratories (RDY) edged 0.1% lower.

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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