Markets

Asian ADRs Move Higher in Friday Trading

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American depositary receipts of Asian stocks were trading 0.52% higher at 188.32 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by IT company ChinaCache ( CCIH ), and online game developer The9 ( NCTY ), which soared 67.8% and 65.7% respectively. They were followed by commercial real estate company China Techfaith Wireless Communication ( CNTF ), and China Digital TV Holding ( STVVY ), a provider of conditional access systems in China, which surged 15.9% and 15.8%.

The decliners in North Asia were led by Jumei ( JMEI ), an online retailer of beauty products, and technology company Xunlei (XNET), which fell 7% and 5.1% respectively. They were followed by social networking platform Renren (RENN), and Semiconductor Manufacturing International (SMI), which lost 3.8% and 2.8%.

In South Asia, the gainers were led by IT company SIFY Technologies (SIFY), and digital entertainment company Sea Limited (SE), which rose 11.6% and 3.5% respectively. They were followed by telecommunications provider Telekomunikasi Indonesia (TLK), and pharmaceutical firm Dr. Reddy's Laboratories (RDY), which were up 2.6% and 2.2%.

Telecommunications provider PLDT (PHI) led the decliners in South Asia, falling 1.7%, followed by IT services firm Wipro (WIT), which lost 1.6%. ICICI Bank (IBN), and HDFC Bank (HDB) were down 1% and 0.4% 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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