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Asian ADRs Move Lower in Friday Trading

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American depository receipts of Asian stocks were trading 0.13% lower at 158.89 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by biopharmaceutical company Beigene ( BGNE ), and aluminum producer Aluminum Corporation of China ( ACH ), which rose 4.3% and 3.3% respectively. They were followed by Baozun ( BZUN ), a brand e-commerce solutions company, and Yintech Investment ( YIN ), an online provider of spot commodity trading services in China, which climbed 2.9% and 2.6% respectively.

The decliners in North Asia were led by solar equipment provider SPI Energy ( SPI ), which tumbled 14.9%, followed by fabless semiconductor company Silicon Motion Technology (SIMO), and Canon (CAJ), a manufacturer of office multifunction devices, which fell 4.3% and 3.1% respectively. Semiconductor Manufacturing International (SMI) was down 3.2%.

In South Asia, the gainers were led by pharmaceutical firm Dr. Reddy's Laboratories (RDY), which rose 1.3%. Philippines telecommunications company PLDT (PHI) and automaker Tata Motors (TTM) each increased 0.9%, while HDFC Bank (HDB) was up 0.6%.

Natural resources company Vedanta (VEDL) led the decliners in South Asia, falling 1.8%, followed by IT services firm Wipro (WIT), which dropped 1.7%. WNS Holdings (WNS), a provider of business process management services, and ICICI Bank (IBN) were off 0.7% and 0.3% 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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