Markets
OSN

UBIC Leads Gains Among Asian ADRs as U.S. Markets Flatten Following ECB Stimulus Plan

Ubic Inc. ( UBIC ) on Thursday led advances among American depositary receipts of Asian companies as U.S. markets were flat after the European Central Bank cut interest rates and announced measures to spur bank lending.

The Bank of New York Mellon Asia ADR Index gained 0.6%, compared with a 0.3% gain for the S&P 500 Stock Index. Advancers led decliners 80 to 69.

Ubic Inc. ( UBIC ), a Japanese software maker that is thinly traded, led gainers with an 11% increase to $9.81 per ADR. It hit a 52-week high of $12.66 on March 10.

Mecox Lane Ltd. ( MCOX ) gained 6.9% to $4.82 per ADR after the Chinese clothing retailer's shareholders re-elected four directors and elected three others to its board.

Sesa Sterlite Ltd. ( SSLT ) rose 7.9% to $21.17 per ADR as the Indian metals company advanced alongside materials producers after the ECB cut interest rates. Chinese steelmaker Ossen Innovation Co. ( OSN ) rose 6.7% to $0.89 per ADR and Beijing-based agriculture company Agria Corp. ( GRO ) gained 7.6% to $1.43 per ADR.

Gainers included Jumei International Holding Ltd. (JMEI) +6.7%, China Techfaith Wireless (CNTF) +5.5%, Himax Technologies Inc. (HIMX) +5% and The9 Ltd. (NCTY) +5.4%.

Asian ADR decliners included Lentuo International Inc. (LAS) -4.9%, ATA Inc. (ATAI) -4.1% and Tarena International Inc. (TEDU) -3.4%.

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.

In This Story

OSN

Other Topics

Commodities

Latest Markets Videos

    MTNewswires

    Founded in 1999, MT Newswires (formerly known as Midnight Trader) is a leading provider of original source, multi-asset class, real-time, global financial news and information to most of the largest banks, brokerage firms and professional market data, trading & research applications in North America.

    Learn More