ADRs End Lower; China Firms, Oil Majors Decline
08 January 2016 - 10:02AM
Dow Jones News
International stocks trading in New York closed lower on
Thursday.
The BNY Mellon index of American depositary receipts fell 2.4%
to 119.91. The European index decreased 2.1% to 120.23, the Asian
index dropped 2.9% to 128.98, the Latin American index fell 3.9% to
134.26 and the emerging markets index declined 3.5% to 199.35.
Chinese firms and oil majors were among the companies with ADRs
that traded actively.
Thursday's stock selloff came after the People's Bank of China
made its largest downward adjustment to the yuan since August.
China's stock markets stopped trading after only 30 minutes, ending
the shortest trading day in their history after the newly installed
mechanism to limit volatility was triggered for the second time
this week. Among Chinese companies with ADRs, Alibaba Group Holding
Ltd. (BABA) fell 6% to $72.72, Baidu Inc. (BIDU, K3SD.SG) declined
6.1% to $174.37, Netease Inc. (NTES, K3MD.SG) dropped 4.8% to
$165.37, Aluminum Corp. of China Ltd. (ACH, 601600.SH, 2600.HK,
K3HD.SG) decreased 6% to $7.34 and Jumei International Holding Ltd.
(JMEI) dropped 11% to $7.74.
Oil prices slid to levels not seen in more than a decade
Thursday, hammered by continuing market turmoil in China, the
world's second-biggest oil consumer. Among oil majors with ADRs, BP
PLC (BP, BP.LN) fell 2.9% to $29.43, China Petroleum & Chemical
Corp. (SNP, 0386.HK) decreased 4.3% to $53.71, PetroChina Co. (PTR,
0857.HK, 601857.SH, K3OD.SG) dropped 4.4% to $58.90, Royal Dutch
Shell PLC (RDSA, RDSA.LN) declined 4.3% to $42.12 and Total SA
(TOT, FP.FR) fell 2.4% to $41.63.
Airport operator Grupo Aeroportuario del Pacifico SAB (PAC,
GAP.MX) reported that terminal passenger traffic rose 19% last
month at its 12 airports in Mexico and 3.9% at Montego Bay from a
year earlier. Domestic traffic rose 20% in its network and
international traffic climbed 17%. The percentage of seats filled
-- or load factor rose 2.4 percentage points to 79%. Helping out
were a host of new routes to locales like Guadalajara, Tijuana, and
Los Cabos. ADRs fell 5.5% to $79.11.
Write to Tess Stynes at tess.stynes@wsj.com
(END) Dow Jones Newswires
January 07, 2016 17:47 ET (22:47 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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