Asian ADRs Slip Lower

American depository receipts of Asian stocks were trading 0.13% lower at 158.89 on the Bank of New York Mellon Asia ADR Index on Friday. In North Asia, the gainers were led by biopharmaceutical company Beigene (BGNE), and aluminum producer Aluminum Corporation of China (ACH), which rose 4.3% and 3.3% respectively. They were followed by Baozun (BZUN), a brand e-commerce solutions company, and Yintech Investment (YIN), an online provider of spot commodity trading services in China, which climbed 2.9% and 2.6% respectively.

The decliners in North Asia were led by solar equipment provider SPI Energy (SPI), which tumbled 14.9%, followed by fabless semiconductor company Silicon Motion Technology (SIMO), and Canon (CAJ), a manufacturer of office multifunction devices, which fell 4.3% and 3.1% respectively. Semiconductor Manufacturing International (SMI) was down 3.2%. In South Asia, the gainers were led by pharmaceutical firm Dr. Reddy’s Laboratories (RDY), which rose 1.3%. Philippines telecommunications company PLDT (PHI) and automaker Tata Motors (TTM) each increased 0.9%, while HDFC Bank (HDB) was up 0.6%.

Leave a Reply

Your email address will not be published. Required fields are marked *

*