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Asian ADRs Higher as Indian Banks Jump and Solar Stocks See Mixed Fortunes

American depository receipts of Asian stocks were trading 0.4% higher at 130.01 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Gainers in north Asia were led by ReneSola ( SOL ), a manufacturer of solar power products, which surged by 12.4%, followed by Cheetah Mobile ( CMCM ), a provider of online marketing services, 3.2% higher and China Ming Yang Wind Power ( MY ), a wind turbine manufacturer, up by 3.1%. ReneSol announced Q3 convertible bond and share repurchases. It said it bolstered its balance sheet and significantly reduced its debt obligations

In southern Asia, Indian banks HDFC Bank ( HDB ) and ICICI Bank ( IBN ) were 0.9% and 0.5% higher, respectively, while WNS Holdings (WNS), a provider of business process management services, advanced by 0.6%.

Decliners in north Asia were led by Himax Technologies (HIMX), a semiconductor solution provider, 2.9% lower, followed by online marketplace 58.com (WUBA), 2.5% lower and solar panel manufacturer Yingli Green Energy (YGE), down by 2.4%.

And, in southern Asia, Rediff.com India (REDF), an internet platform, slid by 3.7% while Malaysian e-payment solutions provider MOL (MOLG) contracted by 2.4% and Wipro (WIT), an information technology services provider, edged 1.7% 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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