Asian ADRs Trade Lower

American depository receipts of Asian stocks were trading 0.49% lower at 163.98 on the Bank of New York Mellon Asia ADR Index on Friday. In North Asia, the gainers were led by China Mobile (CHL), and semiconductor foundry United Microelectronics (UMC), which rose 1.5% and 1.3% respectively. They were followed by GDS Holdings (GDS), a developer and operator of data centers in China, and telecommunications firm China Telecom (CHA), each of which were up 1.1%.

The decliners in North Asia were led by Aluminum Corporation of China (ACH), express delivery service ZTO Express (ZTO), which fell 6.9% and 4.2% respectively. Social medial platform MOMO Inc. (MOMO), and Fang Holdings (SFUN), an operator of a real estate Internet portal in China, lost 3.4% each. In South Asia, the gainers were led by IT firm SIFY Technologies (SIFY), which rose 1.3%, followed by pharmaceutical company Dr. Reddy’s Laboratories (RDY), and IT company Infosys (INFY), which increased 0.8% and 0.7% respectively.

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