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Asian ADRs Retreat as Solar Stocks Slide Lower

American depository receipts of Asian stocks were 1.2% lower at 127.88 on the Bank of New York Mellon Asia ADR Index on Thursday morning.

Decliners in north Asia were led by photovoltaic cell manufacturers JinkoSolar ( JKS ) and JA Solar ( JASO ), 6.7% and 4.5% lower, respectively. Qunar ( QUNR ), a mobile and online commerce platform for travel in China, was trading 3.0% lower.

In southern Asia, Indian car manufacturer Tata Motors ( TTM ) was down by 3.7% while Malaysian e-payment solutions provider MOL ( MOLG ) edged 2.2% lower and pay TV provider Videocon d2h (VDTH), was down by 1.8%.

Gainers in north Asia were led by MOMO (MOMO), a mobile-based social networking platform, 3.8% higher, followed by Airmedia (AMCN), a provider of out-of-home advertising platforms, up by 2.7%, and internet television company Youku.com (YOKU), 1.9% higher.

And, in southern Asia, information and communications technology solutions company SIFY (SIFY) was 1.7% higher, followed by Vedanta (VEDL), a diversified natural resources company, up by 1.4% and Infosys (INFY), a services company that provides business consulting, 0.1% higher.

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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