Asian ADRs Move Higher

American depository receipts of Asian stocks were trading 0.87% higher at 144.06 on the Bank of New York Mellon Asia ADR Index on Wednesday.

In North Asia, the gainers were led by O2Micro International (OIIM), a manufacturer of computer power management components, which jumped 15.3%, followed by railroad operator Guangshen Railway (GSH), which rose 3.5%. Solar equipment provider SPI Energy (SPI), and financial services company Orix (IX) climbed 3.2% and 3.1% respectively.

The decliners in North Asia were led by China Distance Education (DL), a provider of education services, and Wowo Ltd (JMU), an online platform for providing business-to-business (B2B) services to food-industry suppliers, which lost 3% and 1.9% respectively. They were followed by Yintech Investment (YIN), an online provider of spot commodity trading services in China, down 1.8%, and solar energy company Hanwha Q Cells (HQCL), off 1.5%.

In South Asia, the gainers were led by Indonesian telecommunications company Telekomunikasi Indonesia (TLK), and IT services firm SIFY Technologies (SIFY), which were up 1.6% and 1.3% respectively. They were followed by India-based pharmaceutical company Dr. Reddy’s Laboratories (RDY), higher 0.7%, and IT company Wipro (WIT), up 0.6%.

By Caroline Williams