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Asian ADRs Lower as Pakistan-India Border Skirmishes Continue in Kashmir

American depository receipts of Asian stocks were trading 0.43% lower at 145.06 on the Bank of New York Mellon Asia ADR Index on Thursday morning as news agencies reported that skirmishes were continuing between Pakistani and Indian troops on the international border in Kashmir.

Meanwhile, the Shanghai Composite Index closed at its highest level in more than a year on Thursday at 2,389.37 points, marking a 0.28% rise over the course of the trading day.

North Asian decliners were led by Vimicro International ( VIMC ), a Chinese fabless chip company, down 6.0%, followed by 21Vianet ( VNET ), an internet data center services provider, down 4.7% and China Finance Online ( JRJC ), a Chinese online financial information company, down 3.6%. Cheetah Mobile ( CMCM ), a mobile internet company, was trading 3.2% lower while Sony ( SNE ), a Japanese multinational conglomerate, was down 2.0%.

In Southern Asia, Indian automotive manufacturer Tata Motors (TTM), was down 1.4%, followed by Dr Reddy's Laboratories (RDY), a Hyderabad-based pharmaceutical company, down 0.7% and Wipro (WIT), an IT consulting and system integration services company, down 0.7%. Infosys (INFY), a business consulting firm, was also down 0.7%.

Gainers were led by SouFun (SFUN), a real estate internet portal, up 3.6%, followed by media company China Digital TV Holding (STV), up 2.6%. Online marketplace 58.com (WUBA) was trading 1.7% higher and NetEase (NTES), a Chinese Internet company, was up 1.5%. Chinese internet-based e-commerce company, Alibaba Group Holding Limited (BABA), was up 1.4% and Renren (RENN), a Chinese social networking service, was up 1.2%.

In South Asia, diversified natural resource company Sesa Sterlite (SSLT) was trading 1.3% higher, followed by Rediff.com India (REDF), an Indian news and shopping web portal, up 1.0% and WNS Holdings (WNS), a business process management company, up 0.8%.

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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