Asian ADRs Move Sharply Higher in Friday Trading



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American depositary receipts of Asian stocks were trading 2.60% higher at 149.56 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by securities brokerage China Finance Online ( JRJC ) and online video platform iQIYI ( IQ ), which surged 12.3% and 9.7% respectively. They were followed by educational services provider Bright Scholar ( BEDU ) and online retailer LightInTheBox ( LITB ), which climbed 7.8% and 7%.

The decliners in North Asia were led by solar panel manufacturer Yingli Green Energy ( YGEHY ) and China Techfaith Wireless Communication (CNTF), which tumbled 25.8% and 11.2% respectively. They were followed by educational services provider China Online Education (COE) and biopharmaceutical company Beigene (BGNE), which fell 5.9% and 3.3%.

In South Asia, the gainers were led by automaker Tata Motors (TTM) and mining company Vedanta (VEDL), which rose 5.6% and 5.8% respectively. They were followed by digital entertainment company Sea Limited (SE) and ICICI Bank (IBN), which were up 5.5% and 2.8%.

Biotech firm ASLAN (ASLN) was the only the decliner in South Asia, falling 6.9%.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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