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.

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 All rights reserved. Unauthorized reproduction is strictly prohibited.

Related posts