Markets

Chinese Internet Retailers Lead Asian ADR Gainers; Melcro Crown Declines Alongside Casino Operators

American depositary receipts of Asian companies posted slim gains Monday after Chinese trade data showed gains in exports. Exports in May rose 7% from the prior year, while imports fell 1.6%.

The Bank of New York Mellon Asia ADR Index gained 0.12% to narrow its year-to-date loss to 1.85%. Advancers led decliners 87 to 64. The S&P 500 Stock Index rose 0.1%.

Chinese online retailers showed broad gains, including JD.com Inc. ( JD ) +5%, E-Commerce China Dangdang Inc. ( DANG ) +5% and Jumei International Holding Ltd. ( JMEI ) +5.2%.

The Chinese solar industry partly reversed a sell-off from last week, when U.S. trade authorities slapped import tariffs on solar-energy products. Hanwha Solarone Co. ( HSOL ) +2.4%, Trina Solar Ltd. ( TSL ) +2.3% and Daqo New Energy Corp. (DQ) +2.4% led solar advancers.

Asian ADR gainers included Ubic Inc. (UBIC) +7.1%, Rediff.com India Ltd. (REDF) +7%, YY Inc. (YY) 5.1% and NQ Mobile (NQ) +4%.

Melco Crown Entertainment Ltd. (MPEL) declined 5.6% to $30.74 per ADR as casino operators posted broad declines on concerns about slowing growth in Macau. Deutsche Bank lowered its forecast for growth in gross gaming revenue to 12% from 15%. Wynn Resorts Ltd. (WYNN) fell 5.7% to become the biggest decliner among the S&P 500.

Decliners included Bona Film Group Ltd. (BONA) -3%, and Taomee Holdings Ltd. (TAOM) -3.1% and Kingtone Wirelessinfo Solution Holding Ltd. (KONE) -2.9%.

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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