Markets

Asian ADRs Higher on Manufacturing Gains

American depository receipts of Asian stocks were trading 0.6% higher at 146.71 on the Bank of New York Mellon Asia ADR Index on Tuesday.

Gainers in North Asia were led by internet technology company NetEase ( NTES ), up 5.2%, followed by Taiwan Semiconductor Manufacturing ( TSM ), trading 4.0% higher and Advanced Semiconductor Engineering ( ASX ), up 2.4%.

YY ( YY ), a communication and social platform, was up 1.6% while Baidu ( BIDU ), a Chinese-language internet search provider, gained 1.5% and Melco Crown Entertainment (MPEL), a developer, owner and operator of casino gaming and entertainment resort facilities in Asia, jumped 1.5%.

In South Asia, Indian baks ICICI (IBN) and HDFC (HDB) gained 3.9% and 1.5% respectively, while Indian car-maker Tata Motors (TTM) rose 3.4% and e-payment solutions provider MOL (MOLG) rose 1.7%.

Decliners in North Asia were led by Silicon Motion Technology (SIMO), a Taiwan-based holding company, down 3.7%, followed by Qihoo 360 Technology (QIHU), an internet company, trading 3.3% lower and AU Optronics (AUO), a manufacturer of flat panel displays, 2.9% lower.

Solar energy companies Trina Solar (TSL) and Jinko Solar (JKS) were down 2.9% and 2.1% respectively.

And in Southern Asia, internet services provider SIFY (SIFY) slid 2.9% while Indoesian telecommunications company Telekomunikasi Indonesia (TLK) fell 1.0%

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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