Asian ADRs Move Lower in Friday Trading

Asian ADRs Move Lower in Friday Trading

American depository receipts of Asian stocks were trading 0.68% lower at 176.97 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by technology company Xunlei ( XNET ), and software firm Gridsum ( GSUM ), which rose 5.1% and 4.9% respectively. They were followed by real estate developer Xinyuan Real Estate ( XIN ), up 2.2%, and Korean steel company Ossen Innovation ( OSN ), up 1.7%.

The decliners in North Asia were led by Jianpu ( JT ), and consumer lending company Hexindai (HX), which lost -7.1% and 6.6% respectively. They were followed by PPDAI (PPDF), an online consumer finance marketplace company in China, down 6.4%, and micro lending company Qudian (QD), down 4.5%.

In South Asia, the gainers were led by digital entertainment company Sea Limited (SE), and IT firm SIFY Technologies (SIFY), which rose 1.3% and 0.6% respectively. They were followed by WNS Holdings (WNS), a provider of business process management services, up 0.4%, and Videocon d2h (VDTH), a direct-to-home video provider, up 0.1%.

Pharmaceutical firm Dr. Reddy’s Laboratories (RDY) led the decliners in South Asia, falling 1.8%, followed by ICICI Bank (IBN), which was off 1.2%. Automaker Tata Motors (TTM), and IT company Infosys (INFY) dropped 1% each.

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