Asian ADRs Move Lower in Tuesday Trading

Asian ADRs Move Lower in Tuesday Trading

American depository receipts of Asian stocks were trading 0.46% lower at 166.82 on the Bank of New York Mellon Asia ADR Index on Tuesday.

In North Asia, the gainers were led by real estate services provider Leju Holdings ( LEJU ), and Semiconductor Manufacturing International ( SMI ), which rose 5.2% and 3.5% respectively. They were followed by mobile app company Cheetah Mobile ( CMCM ), up 2.4%, and Bright Scholar ( BEDU ), an operator of international and bilingual K-12 schools in China, up 2.2%.

The decliners in North Asia were led by Fang Holdings ( SFUN ), a real estate internet portal in China, and software firm Gridsum (GSUM), which fell 8% and 5.4% respectively. They were followed by wealth management firm Noah Holdings (NOAH), down 5.4%, and China Finance Online (JRJC), a web-based financial services company, down 5.3%.

In South Asia, the gainers were led by IT companies SIFY Technologies (SIFY), and Wipro (WIT), which rose 2.2% and 0.2% respectively. They were followed by direct-to-home video provider Videocon d2h (VDTH), which edged 0.1% higher.

Telecommunications provider PLDT (PHI) led the decliners in South Asia, falling 1.9%, followed by natural resources firm Vedanta (VEDL), which lost 1.3%. Automaker Tata Motors (TTM) dropped 1%, while HDFC Bank (HDB) dropped 0.8%.

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