Markets

Asian ADRs Move Higher in Tuesday Trading

American depository receipts of Asian stocks were trading 1.66% higher at 180.07 on the Bank of New York Mellon Asia ADR Index on Tuesday.

In North Asia, the gainers were led by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, which soared 52.9%, followed by IT company ChinaCache ( CCIH ), airline operator China Southern Airlines ( ZNH ), and commercial wheel manufacturer China Zenix Auto International ( ZX ), which surged 9.6%, 8.8%, and 7.8% respectively.

The decliners in North Asia were led by conditional access TV provider China Digital TV Holding ( STVVY ), and LINE Corp (LN), which fell 6.3% and 3.5% respectively. They were followed educational services provider China Online Education (COE), and power producer Huaneng Power International (HNP), which lost 2.1% and 1.7%.

In South Asia, the gainers were led by natural resources company Vedanta (VEDL), and ICICI Bank (IBN), which climbed 3.5% and 2.5% respectively. Telecommunications providers Telekomunikasi Indonesia (TLK), and PLDT (PHI) were up 2.5% and 0.7%.

Digital entertainment company Sea Limited (SE) led the decliners in South Asia, falling 0.7%, followed by IT company SIFY Technologies (SIFY), HDFC Bank (HDB), and automaker Tata Motors (TTM), which lost 0.5%, 0.3%, and 0.1% 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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