Asian ADRs Move Higher in Tuesday Trading

American depository receipts of Asian stocks were trading 0.76% higher at 147.73 on the Bank of New York Mellon Asia ADR Index on Tuesday as oil stocks and IT firms helped boost the region’s markets.

In North Asia, the gainers were led by advertising company VisionChina Media (VISN) and oil company PetroChina (PTR), which surged 6.8% and 6.2% respectively. They were followed by Sinopec Shanghai Petrochemical (SHI), higher 3.9% and Semiconductor Manufacturing International (SMI), up 3.7%.

The decliners in North Asia were led by fabless semiconductor firm Himax Technologies (HIMX), and Korean steel company POSCO (PKX), which fell 7.6% and 3.8% respectively. They were followed by China Online Education (COE), a provider of online English language education services, lower 2.9%, and solar energy company Hanwha Q Cells (HQCL), off 2.1%.

In South Asia, the gainers were led by IT services firm Wipro WIT, and Indonesian telecommunications company Telekomunikasi Indonesia (TLK), which rose 1.7% and 1.6% respectively. They were followed by IT service providers Infosys (INFY), up 1.3%, and SIFY Technologies (SIFY), higher 1.2%.

By Fred Canto