Asian ADRs Shift Higher

American depository receipts of Asian stocks were trading 0.06% higher at 160.21 on the Bank of New York Mellon Asia ADR Index on Wednesday. In North Asia, the gainers were led by ReneSola (SOL), a supplier of green energy products, and Semiconductor Manufacturing International (SMI), which surged 10.5% and 8.9% respectively. They were followed by commercial real estate developer China Techfaith Wireless Communication (CNTF), up 3.6%, and aluminum producer Aluminum Corporation of China (ACH), up 2.7%.

The decliners in North Asia were led by Leju Holdings (LEJU), a real estate services provider in China, and Kingtone Wirelessinfo Solution (KONE), a provider of mobile enterprise solutions, which fell 7.4% and 5.5% each. They were followed by IT company ChinaCache (CCIH), lower 3%, and Jumei (JMEI), an online retailer of beauty products, down 2.3%. In South Asia, the gainers were led by WNS Holdings (WNS), a provider of business process management services, and Philippines telecommunications company PLDT (PHI), which rose 5.6% and 3% respectively. Pharmaceutical firm Dr. Reddy’s Laboratories (RDY) added 2.6%, and ICICI Bank (IBN) rose 1.2%.

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