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Asian ADRs Trade Lower as Financial Stocks Slide

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American depository receipts of Asian stocks were trading 0.2% lower at 156.73 on the Bank of New York Mellon Asia ADR Index on Friday morning.

Decliners in North Asia were led by China Finance Online ( JRJC ), a financial information and services provider, down 5.4%, followed by 500.com ( WBAI ), an online sports lottery service provider, down 4.5% and China Unicom CHU), an investment holding company, 3.3% lower. China Nepstar Chain Drugstore ( NPD ), a retail drugstore chain, was also 2.3% lower.

In Southern Asia, Indian bank HDFC Bank ( HDB ), fell 2.3% while Wipro ( WIT ), an information technology services provider, fell 1.5% and Indian bank ICICI Bank (IBN) contracted 0.9%.

In North Asia, gainers were led by Cheetah Mobile (CMCM), a mobile internet company, up 6.2%, followed by Jumei (JMEI), an online retailer of beauty products, trading 3.2% higher and Autohome (ATHM), an online destination for automobile consumers, up 2.3%. Qihoo 360 Technology (QIHU), an internet company, was also 1.1% higher.

And in southern Asia, Malaysian e-payment solutions company MOL (MOLG) rose 4.9% while diversified metal and mining company Sesa Sterlite (SSLT) expanded by 3.5% and SIFY (SIFY), an internet services provider, was up 0.8%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Copyright (C) 2016 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


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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