Asian ADRs Move Lower in Monday Trading

American depository receipts of Asian stocks were trading 0.24% lower at 143.65 on the Bank of New York Mellon Asia ADR Index on Monday.

In North Asia, the gainers were led by electric utility company Korea Electric Power (KEP), and solar equipment maker SPI Energy (SPI), which rose 2.3% and 2.1%, respectively. They were followed by financial holding company Shinhan Financial (SHG), and Korean telecommunications company SK Telecom (SKM), which were up 1.6% and 1.5%, respectively.

The decliners in North Asia were led by e-commerce solutions company Baozun (BZUN), which fell 3.1%, followed by telecommunications firm China Unicom (CHU), and wireless telecommunications provider China Mobile (CHL), which dropped 3% and 2.2% respectively.. China Finance Online (JRJC), an online financial services company in China, lost 2.1%.

In South Asia, the gainers were led by ICICI Bank (IBN), which surged 5.5%. Indian pharmaceutical company Dr. Reddy’s Laboratories (RDY) rose 0.4%, while natural resources company Vedanta (VEDL), and WNS Holdings (WNS), a provider of business process management services, edged 0.3% and 0.2% lower respectively.

HDFC Bank (HDB) led the decliners in South Asia, falling 1.9%, followed by automaker Tata Motors (TTM), which dropped 1.2%. They were followed by IT services firm SIFY (SIFY), and direct-to-home video provider Videocon d2h (VDTH), which were off -0.9% and 0.7%, respectively.

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