ADRs End Slightly Higher; Xunlei, Bitauto, Infosys Trade Actively
13 January 2018 - 09:59AM
Dow Jones News
International stocks trading in New York closed slightly higher
on Friday.
The BNY Mellon index of American depositary receipts rose 0.9%
to 161.02. The European index increased 1.2% to 148.22. The Asian
index increased 0.3% to 192.28. The Latin American index increased
0.5% to 265.11, and the emerging-markets index rose 0.5% to
345.55.
Xunlei Ltd. (XNET), Bitauto Holdings Ltd. (BITA) and Infosys
Ltd. (INFY) were among those with ADRs that traded actively.
Chinese cloud-based acceleration technology company Xunlei
plunged after China's industry group the National Internet Finance
Association warned about "initial miner offerings," a new kind of
mining-focused cryptocurrency offering. Earlier this week, The Wall
Street Journal reported Chinese authorities ordered the closing of
operations that create a large share of the world's supply of
bitcoin, tightening a clampdown that has already shuttered
exchanges for the trading of cryptocurrencies in China. ADRs of
Xunlei dropped 27.4% to $16.63.
Chinese-based Bitauto, a provider of internet content and
marketing services, announced Friday the appointment of the
company's president, Andy Zhang, as chief executive officer,
effective immediately, replacing company founder William Li. Mr.
Zhang will remain chairman of the board of directors and CEO of
Bitauto's controlled subsidiary Yixin Group Ltd., an online
automobile retail transaction platform. Mr. Li will continue to
serve as chairman of the board. ADRs of Bitauto dropped 2.4% to
$35.55.
India-based outsourcing firm Infosys on Friday said its profit
rose 38% last quarter thanks to a one-time tax benefit. The company
said that its profit in the three months ended Dec. 31 was 51.29
billion rupees ($805 million), compared with 37.08 billion rupees a
year ago. The company's revenue grew 3% to 177.94 billion rupees.
ADRs of Infosys dropped 2.7% to $16.81.
(END) Dow Jones Newswires
January 12, 2018 17:44 ET (22:44 GMT)
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