Japanese ADRs lead Asia’s advance
U.S.-listed shares of Asian companies jumped Thursday, supported by gains among Japanese shares and Chinese online providers that rose on earnings.
The Bank of New York Asia American Depositary Receipt Index rose 1.47 points, or 1%, to 139.38, making it the bank’s best-performing subregional index. The overall Composite Index added 0.33 points to 143.03.
Japan’s ADRs were on the forward march, supported by what many see as a full-scale Japanese economic recovery.
Earlier, the Nikkei 225 Average, Tokyo’s major benchmark, rose 2% to 16,096.10. See Asia Markets.
Financial shares were higher after the nation’s leading business daily, the Nihon Keizai Shimbun, reported that the country’s big three brokerages plan to pay out record dividends for fiscal year.
More: marketwatch.com
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Japan, Korea lead Asia ADR declines
U.S.-listed shares of Asian companies fell hard Wednesday, led by losses among Japanese and Korean names.
The Bank of New York Asia American Depositary Receipt Index fell 1.10 points to 137.32, suffering the biggest drop among the sub-regional indexes. The overall Composite ADR Index traded 0.84 points lower to 140.68. Earlier, Japan's Nikkei 225 dropped 250 points, ending 1.56 lower.
Japan's largest bank by market capitalization said a steep decline in costs associated with writing off bad loans boosted its profit. It also increased its profit and dividend guidance for the full year ending in
Asia ADRs sink as Wall Street sours
Asian shares trading in the U.S. Thursday tumbled, ignoring earlier gains across the Pacific and instead taking their cue from a downturn on Wall Street.
The Bank of New York Asia American Depositary Receipt Index fell 1.73 points to 139.17, surpassing losses on the overall Composite Index, which was last 1.56 points lower to 142.66.
Asia's main financial markets closed higher earlier Thursday but Wall Street traded lower, as disappointing productivity data and earnings results offset strong January sales results from retailers. See Market Snapshot.
Oil and gas ADRs fell sharply as crude futures dropped
Wall Street, Asia rally power ADRs
Surging benchmarks from Wall Street to the Pacific Rim propelled Asian shares trading in New York Friday to lofty heights.
The Bank of New York Asia American Depositary Receipt Index was last up 2.45 points, or 1.8%, to 138.96 and the overall Composite Index was 2.35 points, or 1.7%, higher at 142.09.
Earlier, South Korea's Kospi index closed at a new all-time high, up 1.2% to 1,412.79. In Tokyo, the bellwether Nikkei 225 finished up 2.84 points at 16,428.21, its highest close since September 2000. See Asia Markets.
Subsequently, Korean ADRs posted the most consistently solid gains.
Korean Clubs Advance in Asia Matches
South Korean teams got off to a strong start in the Asian Football Confederation Champions League competition with both Ulsan Tigers and Chonbuk Motors winning their first group matches.
Ulsan, defending champion of the K-League, beat Tokyo Verdy 2-0 in its Group F match in Tokyo on Wednesday.
Choi Sung-kuk scored in the 57th minute off a Park Kyu-sun set-up, and Leandro Machado doubled the advantage 14 minutes later. Machado, K-League’s best scorer last season with 13 goals, was fed from a new Brazilian import, Vinicius, and fired a right-footer into the net of the Japanese
Around Asias Markets: Real estate makes a charge in Indonesia
Indonesian property stocks were the nations worst performers in 2005. This year, theyre leading gains in Southeast Asias fastest-rising market.
The Jakarta Stock Exchange Construction, Property and Real Estate Index has surged 51 percent in 2006, outperforming the 32 percent advance of the benchmark Jakarta Composite Index.
Developers such as Ciputra Surya and Summarecon Agung are rebounding on investor expectation the central bank will keep cutting interest rates following a reduction this week.
Investors are jumping into an industry that is playing catch-up as real estate stocks
