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Asian ADRs Rise to Nine-Day High; Social Network MOMO Surges 16 Per Cent

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American depository receipts of Asian stocks were 2.5% higher at 120.11 on the Bank of New York Mellon Asia ADR Index on Tuesday morning.

Gainers in north Asia were led by MOMO ( MOMO ), a social networking platform, 16.3% higher, followed by Vipshop ( VIPS ), an online discount retailer, up by 7.9% and JD.com ( JD ), an online direct sales company, 7.7% higher.

In southern Asia, Vedanta ( VEDL ), a natural resource major, was 4.9% higher, followed by Philippine Long Distance Telephone ( PHI ), a telecommunications services provider in the Philippines, up by 3.6% and ICICI Bank (IBN), 2.6% higher.

Decliners in north Asia were led by WOWO (WOWO), an e-commerce platform, 13.0% lower, followed by Acorn (ATV), a marketing and branding company, 1.8% lower and technology company ChinaCache (CCIH), 1.7% lower.

And, in southern Asia, Rediff.com India (REDF), an internet platform, was 9.3% lower, followed by WNS (WNS), a business process management company, and SIFY (SIFY), an information and communications technology company, 1.6% and 1.0% lower, 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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