Markets

Asian ADRs Lower In Morning Session

American depository receipts of Asian stocks were trading 0.29% lower at 148.58 on the Bank of New York Mellon Asia ADR Index on Wednesday morning.

Decliners were led by Autohome ( ATHM ), an automobile website, which was down 7.3%. Leju Holdings ( LEJU ), an online-to-offline real estate services provider, which was down 7.3% while Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, was trading 5.0% lower.

NQ Mobile ( NQ ), a provider of mobile internet services, was down 4.1% while solar company ReneSola ( SOL ) was down 3.8%. Real estate internet portal SouFun (SFUN) was down 2.8% and internet television company Youku (YOKU) was down 1.8%.

In Southern Asia, telecommunications operator Philippine Long Distance Telephone (PHI) was down 4.0% and Sesa Sterlite (SSLT), a metal and mining company, was down 3.1%.

Gainers were led by online video company Ku6 Media (KUTV), up 19.0%, followed by technology company China Techfaith Wireless Communication (CNTF), up 8.0% and Alibaba Group Holding Limited (BABA), an online and mobile commerce company, up 2.4%.

Both Vipshop (VIPS), an online discount retailer, and Honda Motor (HMC), a manufacturer of motor products, were up 2.2%.

In Southern Asia, Rediff.com India (REDF), a provider of online business and consumer offerings, was trading 7.4% higher, followed by MOL (MOLG), an e-payment solutions provider, up 3.5%, and pharmaceutical company Dr Reddy's Laboratories (RDY), up 1.9%.

SIFY (SIFY), an electronic commerce services company, was also 1.7% higher and Indian bank ICICI Bank (IBN), lifted 0.9%.

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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