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Asian ADRs Hit Two-Week High Buoyed By Banks

Depository receipts of Asian stocks hit a two-week high during the morning session on Thursday, lifted by growth in the region's financial institutions.

The Bank of New York Mellon Asia ADR Index was 0.26% higher at 153.33 less than an hour after main U.S. markets opened.

In South Asia, Indian bank, ICICI ( IBN ) led the gainers, lifting 2.42% while HDFC Bank ( HDB ) saw a 1.54% gain.

In North Asia, web services company Baidu ( BIDU ) was up 1.13%, Taiwan Semiconductor Manufacturing ( TSM ) was up 1.03% and telecommunication company China Mobile ( CHL ) was up 2.46%.

In North Asia, decliners were led by E-Commerce China Dangdang (DANG), which was down 11.32% and online discount retailer Vipshop (VIPS) also saw a contraction, falling 8.16%.

In South Asia, information and communications technology company SIFY (SIFY) was down 0.97% and business processes outsourcing company WNS (WNS) was down 0.87%.

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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