Markets

Asian ADRs Trade Higher as Leisure-Related Stocks Rally

American depository receipts of Asian stocks were trading 0.6% higher at 131.30 on the Bank of New York Mellon Asia ADR Index on Friday morning.

Gainers in north Asia were led by Melco Crown Entertainment ( MPEL ), an owner and operator of casino gaming and entertainment resort facilities, 9.2% higher, followed by online discount retailer Vipshop ( VIPS ), up by 4.9% and CTrip.com International ( CTRP ), a travel service provider for hotel accommodations, 4.7% higher. There were reports that authorities in mainland China are reviewing plans to boost Macau's economy, which boosted gaming stocks.

In southern Asia, Indian car-maker Tata Motors ( TTM ), rose by 0.3%.

Decliners in north Asia were led by Nippon Telegraph and Telephone ( NTT ), a provider of fixed and mobile voice related services, 2.6% lower, followed by Advanced Semiconductor Engineering (ASX), a provider of semiconductor packaging and testing services, 2.2% lower and steel-making company POSCO (PKS), down by 2.0%.

And, in southern Asia, biopharmaceutical company Can-Fite Biopharma (CANF) was 1.6% lower while Infosys (INFY), a provider of consulting, outsourcing and next-generation services, edged 1.5% lower and banking business Sumitomo Mitsui Financial (SMFG) slid by 1.5%.

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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