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    Asian ADRs Move Higher in Friday Trading

    Asian ADRs Move Higher in Friday Trading

    American depository receipts of Asian stocks were trading 0.42% higher at 151.65 on the Bank of New York Mellon Asia ADR Index on Friday.

    In North Asia, the gainers were led by China Digital TV Holding ( STV ), a provider of conditional access systems, which soared 34.7%, followed by electronics and entertainment giant Sony ( SNE ), which rose 3.6%. Semiconductor company Semiconductor Manufacturing International ( SMI ), and car rental company eHi Car Services ( EHIC ), gained 2.1% and 1.8% each.

    The decliners in North Asia were led by internet service provider Internet Initiative Japan ( IIJI ), and aluminum producer Aluminum Corporation of China (ACH), which fell 3.6% and 1.7% respectively. They were followed by solar equipment provider Yingli Green Energy (YGE) and airline operator China Eastern Airlines (CEA), which lost 1.5% and 1.2% each.

    In South Asia, the only gainer was Philippines telecommunications firm PLDT (PHI), which rose 0.9%.

    Natural resources company Vedanta (VEDL) led the decliners in South Asia, falling 0.8%, followed by automaker Tata Motors (TTM), which dropped 0.7%. Pharmaceutical firm Dr. Reddy’s Laboratories (RDY), and ICICI Bank (IBN) lost 0.7% and 0.6% respectively.