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Asian ADRs Lower As e-Commerce Stocks Slide

American depository receipts of Asian stocks were trading 0.2% lower at 155.87 on the Bank of New York Mellon Asia ADR Index on Thursday.

Decliners in North Asia were led by Autohome ( ATHM ), an online destination for automobile consumers, down 5.1%, followed by SouFun ( SFUN ), real estate internet portal operator, 4.4% lower and Airmedia ( AMCN ), an operator of out-of-home advertising platforms, 3.0% lower.

In Southern Asia, Indian car maker Tata Motors ( TTM ) slid 1.4% while Indonesian telecommunication stock Telekomunikasi Indonesia ( TLK ) dropped 1.1% and pharmaceutical company Dr Reddy's Laboratories (RDY), contracted 0.9%. Indian bank ICICI Bank (IBN) was also down 0.9%.

Gainers in North Asia were led by financial information and services provider China Finance Online (JRJC), up 15.7%, followed by Silicon Motion Technology (SIMO), a developer of integrated circuits, up 5.0% and Aluminium Corporation of China (ACH), which is engaged in the extraction of aluminum oxide, was 4.6% higher.

In Southern Asia, Internet services provider SIFY (SIFY) gained 2.3% while Malaysian e-payment solutions provider MOL (MOLG) lifted 1.8% and diversified metal and mining company Sesa Sterlite (SSLT) rose 0.7%.

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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