Markets

Asian ADRs Move Higher in Tuesday Trading

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American depository receipts of Asian stocks were trading 0.06% higher at 169.96 on the Bank of New York Mellon Asia ADR Index on Tuesday.

In North Asia, the gainers were led by Xunlei ( XNET ), a cloud-based acceleration technology company, and online retailer LightInTheBox ( LITB ), which rose 3.3% and 3% respectively. They were followed by commercial wheel manufacturer China Zenix Auto International ( ZX ),up 2.9%, and China Finance Online ( JRJC ), a web-based financial services company, higher 2.8%.

The decliners in North Asia were led by solar equipment company ReneSola ( SOL ), and Advanced Semiconductor Engineering (ASX), which fell 2.9% and 2.1% respectively. They were followed by solar energy equipment maker SPI Energy (SPI), lower 2%, and Korean telecommunications comany SK Telecom (SKM), down 1.8%.

In South Asia, the gainers were led by IT company SIFY Technologies (SIFY) and natural resources company Vedanta (VEDL), which rose 2.5% and 2.2% respectively. They were followed by IT services firm Wipro (WIT), up 0.7%, and WNS Holdings (WNS), a provider of business process management services, up 0.3%.

Pharmaceutical firm Dr. Reddy's Laboratories (RDY) led the decliners in South Asia, falling 4%, followed by telecommunications provider PLDT (PHI), and HDFC Bank (HDB), each of which closed 0.2% lower.

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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