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Asian ADRs Move Lower in Friday Trading

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American depository receipts of Asian stocks were trading 0.78% lower at 142.17 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by online retail company LightInTheBox ( LITB )m which rose 4.9% , followed by online classifieds and listings platform 58.com ( WUBA ), which was up 2.5%. They were followed by ReneSola ( SOL ), a provider of energy-efficient products, and Chinese marketing and branding company Acorn ( ATV ), which gained 2% and 1.8%, respectively.

The decliners in North Asia were led by polysilicon manufacturer Daqo New Energy (DQand ATA ( ATAI ), a provider of computer-based testing services in China, which fell 4.4% and 3.1% respectively. They were followed by Japanese automakers Toyota Motor (TM), and Honda Motor (HMC), which shed 3% and 1.6%, respectively.

In South Asia, the only gainers were HDFC Bank (HDB) and IT services firm Infosys (INFY) which moved 1% and 0.3% higher, respectively.

Indian natural resources firm Vedanta (VEDL) led the decliners in South Asia, falling 2.9%, followed by ICICI Bank (IBN) and automobile manufacturer Tata Motors (TTM), which dropped 2.1% and 1.6%, respectively. WNS Holdings (WNS), a provider of business process management services, moved 0.3% lower.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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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