Asian ADRs Slightly Lower

American depositary receipts of Asian stocks were trading 0.05% lower at 164.21 on the Bank of New York Mellon Asia ADR Index on Monday. In North Asia, the gainers were led by Korean steel company Ossen Innovation (OSN), and aluminum producer Aluminum Corporation of China (ACH), which rose 3.2% and 2.3% respectively. They were followed by O2Micro International (OIIM), which makes power management components for computers, and commercial real estate developer China Techfaith Wireless Communication (CNTF), which were up 2.2% each.

The decliners in North Asia were led by oil company Sinopec Shanghai Petrochemical (SHI) and IT company ChinaCache (CCIH), which fell 3.9% and 3.1% respectively. Bright Scholar (BEDU), an operator of international and bilingual K-12 schools in China, and solar park operator Sky Solar Holdings Ltd (SKYS) were off 3.1% and 2.2% respectively.
In South Asia, the gainers were led by natural resources company Vedanta (VEDL), and ICICI Bank (IBN), which rose 1.4% and 0.4% respectively. They were followed by auto maker Tata Motors (TTM), and telecommunications provider Telekomunikasi Indonesia (TLK), each of which edged 0.4% higher.

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