Asian ADRs Move Lower in Thursday Trading
American depository receipts of Asian stocks were trading 0.15% lower at 180.40 on the Bank of New York Mellon Asia ADR Index on Thursday.
The decliners in North Asia were led by Airmedia ( AMCN ), which tumbled 18.5%. China Digital TV Holding (STVVY), a provider of conditional access systems to China, and commercial real estate firm China Techfaith Wireless Communication ( CNTF ) fell 5.6% and 2.2% respectively. They were followed by telecommunications provider SK Telecom ( SKM ), off 2.4%, and Woori Bank ( WF ), which dropped 3%.
The gainers were led by polysilicon manufacturer Daqo New Energy ( DQ ), which rose 6.2%. It was followed by Korean steel company Ossen Innovation (OSN), and solar panel manufacturer Yingli Green Energy (YGE), which were up 4.3% and 0.8%.
In South Asia, the gainers were led by direct-to-home video provider Videocon d2h (VDTH), and telecommunications provider Telekomunikasi Indonesia (TLK), which climbed 3.6% and 1.9% respectively. They were followed by natural resources company Vedanta (VEDL), and pharmaceutical firm Dr. Reddy’s Laboratories (RDY), which rose 2.9% and 0.2%.
IT company SIFY Technologies (SIFY) was among the decliners in South Asia, falling 0.6%, followed by automaker Tata Motors (TTM), which was down 1.2%, and WNS Holdings (WNS), a provider of business process management services, which moved 0.8% lower.
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