Markets

Asian ADRs Move Lower in Friday Trading

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American depository receipts of Asian stocks were trading 0.26% lower at 186.59 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by mobile application software company Cheetah Mobile ( CMCM ), and educational services provider RYB Education ( RYB ), which rose 3.9% and 4.3% respectively. They were followed by Fronteo ( FTEO ), a provider of Asian-language eDiscovery solutions and services, and outdoor advertising company Airmedia ( AMCN ), which climbed 3.8% and 2.8%.

The decliners in North Asia were led by IT company ChinaCache ( CCIH ), and Korean steel producer Ossen Innovation (OSN), which fell 4.2% 3.6% respectively. They were followed by educational services providers New Oriental Education & Technology (EDU), and TAL Education (TAL), which lost 3.4% and 2.5%.

In South Asia, the gainers were led by IT company SIFY Technologies (SIFY), and digital entertainment company Sea Limited (SE), which were up 3.5% and 3.1% respectively. They were followed by IT company Wipro (WIT), and WNS Holdings (WNS), a provider of business process management services, which increased 0.4% and 0.3%.

Autoamker Tata Motors (TTM) led the decliners in South Asia, falling 2.6%, followed by pharmaceutical firm Dr. Reddy's Laboratories (RDY), which dropped 2.3%. Telecommunications services provider Telekomunikasi Indonesia (TLK), and HDFC Bank (HDB) declined 2.3% and 1.5% 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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