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Asian ADRs Reach One-Year High As Online Companies Gain

Depository receipts of Asian stocks reached a one-year high during Monday morning's trading session, pulled up by gains in online companies and financial institutions.

Shortly after main markets began trading on Monday, the Bank of New York Mellon Asia ADR Index was up 0.56% to 154.49.

Mobile app manufacturer Sky Mobi ( MOBI ) led the gainers by a strong margin in North Asia, jumping 16.10%. Online financial information provider China Finance Online ( JRJC ) also saw a big gain, increasing 11.46%.

E-commerce company JD.com ( JD ) rose 2.60% and Japanese bank Mitsubishi UFJ Financial ( MTU ) rose 0.87% whilst gaming company Melco Crown Entertainment jumped 0.62%.

In South Asia, Indian Bank ICICI ( IBN ) was up 2.12% and automotive manufacturer Tata Motors (TTM) increased 0.50%

Security software maker Cheetah Mobile (CMCM) led the decliners in North Asia, dropping by 2.32%. It was followed by Xinyuan Real Estate, which was down 1.39%.

Solar power product manufacturer JinkoSolar (JKS) contracted 0.72% and internet services provider Rediff.com India (REDF) slid 1.23%

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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