Asian ADRs Move Lower

American depository receipts of Asian stocks were trading 0.67% lower at 145.74 on the Bank of New York Mellon Asia ADR Index on Friday.

In North Asia, the gainers were led by Renren (RENN), a social networking Internet platform in China, and Kingtone Wirelessinfo Solution (KONE), a mobile enterprise solutions provider, which rose 3% and 2.3% respectively. They were followed by oil company Sinopec Shanghai Petrochemical (SHI), up 2.2%, and semiconductor foundry United Microelectronics (UMC), higher 1.7%.

The decliners in North Asia were led by China Xiniya Fashion (XNY), a provider of men’s business casual apparel in China, and railroad operator Guangshen Railway (GSH), which fell 4.2% and 3.7% respectively. Energy equipment provider ReneSola (SOL) shed 3%, while healthcare group Hutchison China Meditech (HCM) dropped 1.9%.

In South Asia, the gainers were led by natural resources firm Vedanta (VEDL), which rose 1%, while Indonesian telecommunications company Telekomunikasi Indonesia, and WNS Holdings (WNS), a provider of business process management services, gained 0.6% and 0.4% respectively.