Markets

Asian ADRs Lower Despite Renewable Energy Stock Gains

American depository receipts of Asian stocks were trading 0.7% lower at 156.01 on the Bank of New York Mellon Asia ADR Index on Monday.

Decliners in North Asia were led by Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, down 4.5%, followed by Youku.com ( YOKU ), an internet television company, 3.3% lower and 500.com ( WBAI ), an online sports lottery service provider, down 2.5%.

58.com ( WUBA ), an online marketplace, was also trading 2.4% lower.

In Southern Asia, Indian car manufacturer Tata Motors ( TTM ) slid 2.4% while Indonesian telecommunication company Telekomunikasi Indonesia (TLK) dropped 2.0% and diversified metal and mining company Sesa Sterlite (SSLT) edged down 0.7%.

Gainers in north Asia were led by Airmedia (AMCN), an operator of out-of-home advertising platforms, up 15.3%, followed by ReneSola (SOL), a manufacturer of solar power products, 8.1% higher and Jumei (JMEI), an online retailer of beauty products, trading 7.9% higher.

Yingli Green Energy (YGE), a supplier of photovoltaic modules, was also up 4.7%.

In southern Asia, Rediff.com India (REDF), a provider of online business and consumer offerings, gained 2.2% while SIFY (SIFY), an internet services provider, rose 1.6% and Malaysian e-payment solutions provider MOL Global (MOLG) gained 1.5%.

WNS Holdings (WNS), a provider of data, voice, analytical and business transformation services, was also trading 0.6% higher.

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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