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Asian ADRs Move Higher in Thursday Trading

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American depositary receipts of Asian stocks were trading slightly higher at 149.78 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by solar park operator Sky Solar Holdings Ltd. ( SKYS ), which surged 17.3%, followed by financial holding company KB Financial Group ( KB ) and Jianpu ( JT ), a financial products platform provider, which climbed 3.3% each, and internet services company Sohu.com ( SOHU ), which rose 3%.

The decliners in North Asia were led by commercial real estate firm China Techfaith Wireless Communication ( CNTF ) and used car e-commerce platform Uxin (UXIN), which tumbled 26.4% and 16.9% respectively. They were followed by IT company ChinaCache (CCIH) and online retailer LightInTheBox (LITB), which were off 9.6% and 4.6%.

In South Asia, gainers included automaker Tata Motors (TTM), which climbed 3.8%. It was followed by telecommunications operator PLDT (PHI) and mining company Vedanta (VEDL), which were up 1.6% and 1%.

IT company SIFY Technologies (SIFY) led the decliners in South Asia, falling 2.7%, followed by digital entertainment company Sea Limited (SE) and ICICI Bank (IBN), which were down 1.4% and 0.2% 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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