Markets

Asian ADRs Move Lower in Thursday Trading

American depositary receipts of Asian stocks were trading 1.24% lower at 174.80 on the Bank of New York Mellon Asia ADR Index on Thursday.

In North Asia, the gainers were led by online game developer Gravity ( GRVY ), and branding and marketing firm Acorn ( ATV ), which rose 12.9% and 9.0% respectively. They were followed by online consumer finance marketplace PPDAI ( PPDF ), and education services provider China Distance Education ( DL ), which were up 4.4% and 1.5%.

The decliners in North Asia were led by Chinese search engine Sogou ( SOGO ), and video sharing site iQIYI (IQ), which fell 4.4% and 4.2% respectively. They were followed by technology company Xunlei (XNET), and internet and data center service provider 21Vianet (VNET), which lost 3.9% and 3.8%.

In South Asia, the only gainers were pharmaceutical firm Dr. Reddy's Laboratories (RDY), and IT company Wipro (WIT), which rose 2.1% and 0.1% respectively.

Mining company Vedanta (VEDL) led the decliners in South Asia, falling 3.3%, followed by telecommunications operator Telekomunikasi Indonesia (TLK), which was off 2.2%. Automaker Tata Motors (TTM), and IT firm Infosys (INFY) dropped 0.9% each.

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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