Markets

Asian ADRs Move Lower in Thursday Trading

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American depository receipts of Asian stocks were trading 0.25% lower at 160.34 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by semiconductor foundry United Microelectronics ( UMC ), and Jumei ( JMEI ), an online retailer of beauty products, which rose 2.2% and 1.8% respectively. They were followed by Autohome ( ATHM ), an online destination for automobile consumers in China, and media company Phoenix New Media ( FENG ), which increased 1.6% and 1.5% each.

The decliners in North Asia were led by China Digital TV Holding ( STVVY ), a provider of conditional access (CA) systems to China, and solar equipment provider SPI Energy (SPI), falling 6.5% and 4.1% respectively. They were followed by social platform YY Inc. (YY), and solar panel manufacturer Yingli Green Energy (YGE), which lost 3.3% and 2.2% each.

In South Asia, the gainers were led by natural resources company Vedanta (VEDL), and direct-to-home video provider Videocon d2h (VDTH), which rose 1.7% and 0.8% respectively. They were followed by ICICI Bank (IBN), and WNS Holdings (WNS), a provider of business process management services, up 0.6% and 0.5%.

Automobile manufacturer Tata Motors (TTM) led the decliners in South Asia, falling 1.4%, followed by Philippines telecommunications provider PLDT (PHI), which was off 1.1%. Pharmaceutical firm Dr. Reddy's Laboratories (RDY), and HDFC Bank (HDB) dropped 0.6% 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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