Asian ADRs Move Lower in Thursday Trading

Asian ADRs Move Lower in Thursday Trading

American depositary receipts of Asian stocks were trading 0.29% lower at 171.86 on the Bank of New York Mellon Asia ADR Index Thursday.

In North Asia, the gainers were led by solar park operator Sky Solar Holdings ( SKYS ), which jumped 11.2%, followed by Fronteo ( FTEO ), an IT service management company, which surged 7.2%. Internet service provider Internet Initiative Japan ( IIJI ), and Korean steel company Ossen Innovation ( OSN ) rose 3.4% and 3.2% respectively.

The decliners in North Asia were led by online retailer LightInTheBox ( LITB ), and Fanhua (FANH), a financial services provider in China, which fell 3.2% and 2.4% respectively. They were followed by solar equipment company JinkoSolar (JKS), and Japanese financial services firm Nomura (NMR), which lost 2.4% and 1.8% respectively.

In South Asia, the only gainers were pharmaceutical firm Dr. Reddy’s Laboratories (RDY), which rose 6.9%, and telecommunications provider PLDT (PHI), which was up 0.7%.

IT services firm SIFY Technologies (SIFY) led the decliners in South Asia, falling 3%, followed by ICICI Bank (IBN), which dropped lost 2%. Natural resources company Vedanta (VEDL), and automaker Tata Motors (TTM) declined 0.6% and 0.2% respectively.

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