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Asian ADRs Move Higher in Friday Trading

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American depository receipts of Asian stocks were trading 0.19% higher at 147.92 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by internet service provider Internet Initiative Japan ( IIJI ), which rose 4%. IT were followed by airline operators China Eastern Airlines ( CEA ), and China Southern Airlines ( ZNH ), which gained 3.40% and 1.5% respectively.

The decliners in North Asia were led by oil company Sinopec Shanghai Petrochemical ( SHI ), and China New Borun ( BORN ), a producer of corn-based edible alcohol in China, which fell 4.9% and 2.2% respectively. They were followed by Japanese mobile applications company LINE Corp (LN), down 2.1%, and aluminum producer Aluminum Corporation of China (ACH), off 1.8%.

In South Asia, the gainers were led by IT services firm SIFY Technologies (SIFY), which rose 4.6%, followed by WNS Holdings (WNS), a provider of business process management services, and pharmaceutical firm Dr. Reddy's Laboratories (RDY), which edged up 0.5% and 0.3% respectively.

PLDT (PHI), a telecommunications service provider in the Philippines, led the decliners in South Asia, falling 2.3%, followed by natural resources company Vedanta (VEDL), which dropped 1.2%. ICICI Bank (IBN), and automobile manufacturer Tata Motors (TTM) shed 0.9% and 0.8% respectively.

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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