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Asian ADRs Move Lower in Friday Trading

American depository receipts of Asian stocks were trading 0.51% lower at 151.85 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by online recruitment platform Zhaopin LTD ( ZPIN ), and media company Phoenix New Media ( FENG ), which rose 5.9% and 2.6% respectively. They were followed by China Distance Education ( DL ), up 2.3%, a provider of education services, and Korean steel company POSCO ( PKX ), up 1.8%.

The decliners in North Asia were led by aluminum producer Aluminum Corporation of China ( ACH ), and Japanese financial services firm Nomura (NMR), which dropped 2.4% and 2.1% respectively. They were followed by online direct sales company JD.com (JD), and online classifieds and listings provider 58.com (WUBA), which fell 2.1% each.

In South Asia, the gainers were led by WNS Holdings (WNS), a provider of business process management services, and automaker Tata Motors (TTM), which rose 0.8% and 0.7% respectively. Indonesian telecommunications company Telekomunikasi Indonesia (TLK) edged 0.1% higher.

Direct-to-home video provider Videocon d2h (VDTH) led the decliners in South Asia, falling 1.1%, followed by natural resources company Vedanta (VEDL), and Philippines telecommunications provider PLDT (PHI), each of which dropped 0.8%. IT services firm Wipro (WIT) 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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