ADRs End Lower Overall; Chinese Tech Cos Rebound – Morningstar.com

By Matt Grossman

 

International stocks trading in New York closed lower on Friday to end the week.

The S&P/BNY Mellon index of American depositary receipts fell 1.5% to 164.89. The European index declined 1.3% to 141.04. The Asian index fell 1.8% to 229.07. The Latin American index declined 1.4% to 211.04. And the emerging-markets index dropped 2% to 394.81.

DiDi Global Inc. ADRs gained 7.3% to close at $12.03. The rise represented a partial rebound after shares fell earlier this week amid a Chinese regulatory probe into its data-security practices. Two other companies that Chinese regulators were looking into, Full Truck Alliance Co. and Kanzhun Ltd., also rebounded, rising 5.4% and 16%, respectively.

I-Mab ADRs ended 7.7% higher. The Chinese pharmaceutical company said on Friday that it had signed two new collaboration agreements with Chinese biotech companies that would add to its product pipeline.

In Europe, BASF SE posted higher sales and earnings in the latest quarter, a trend the German chemicals company attributed to higher prices and volumes. BASF ADRs rose 4% to close at $20.29.

 

Write to Matt Grossman at [email protected]

 

(END) Dow Jones Newswires

July 09, 2021 17:22 ET (21:22 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

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