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Asian ADRs Move Lower in Thursday Trading

American depository receipts of Asian stocks were trading 0.23% lower at 146.58 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, gainers were led by solar equipment manufacturers Yingli Green Energy ( YGE ) and JA Solar ( JASO ), which rose 4.1% each. They were followed by oil and gas giant China National Offshore Oil-CNOOC ( CEO ), and coal mining company Yanzhou Coal Mining ( YZC ), which gained 3.1% and 3% respectively.

The decliners in North Asia were led by Kingtone Wirelessinfo Solution ( KONE ), a provider of mobile enterprise solutions, which fell 8.6%, followed by LG Display (LPL), a manufacturer of thin-film transistor liquid crystal displays, which lost 3%. Solar park operator Sky Solar Holdings Ltd (SKYS), and financial holding company Shinhan Financial (SHG) were off 2.3% and 1.5%, respectively.

In South Asia, the only gainers were India-based natural resources firm Vedanta (VEDL), and direct-to-home video provider Videocon d2h (VDTH), which were up 1.4% and 0.4%, respectively.

ICICI Bank (IBN) led the decliners in South Asia, falling 2.1%, followed by automaker Tata Motors (TTM), which lost 1.9%. Pharmaceutical company Dr. Reddy's Laboratories (RDY), and Indonesian telecommunications firm Telekomunikasi Indonesia (TLK) were down 1.5% and 1.3%, 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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