ADRs End Slightly Higher; Xunlei, Bitauto, Infosys Trade Actively
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.
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.