Markets

Asian ADRs Lower as Internet Platform Rediff.com Slides Sharply

American depository receipts of Asian stocks were 1.8% lower at 122.11 on the Bank of New York Mellon Asia Asia ADR Index on Friday morning.

Decliners in north Asia were led by CTrip.com International ( CTRP ), a travel service provider for hotel accommodation, 4.8% lower, followed by JD.com ( JD ), an online direct sales company, 4.7% lower and Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, down by 3.8%.

In southern Asia, Rediff.com India ( REDF ), an Indian internet platform, was 11.1% lower, followed by Videocond2h ( VDTH ), a pay TV company, 3.0% lower, and Infosys (INFY), a technology conglomerate, down by 2.1%.

Gainers in north Asia were led by Himax Technologies (HIMX), a fabless semiconductor solution provider, 2.5% higher, followed by China National Offshore Oil - CNOOC (CEO), a company which is engaged in the production of crude oil, up by 2.2% and PetroChina (PTR), an oil and gas producer and seller, trading 2.0% higher.

And, in southern Asia, Vedanta (VEDL), a natural resource major, was 7.8% higher, followed by SIFY (SIFY), an information and communications technology company, up by 2.0% and Philippine Long Distance Telephone (PHI), a telecommunications services provider in the Philippines, 1.1% 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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