Home THE DAILY EDGE Business SGX down on profit-taking; New ADRS thinly traded
SGX down on profit-taking; New ADRS thinly traded

Tags: Baidu.com ADR | Ctrip.com International ADR | SGX | Singapore Exchange

Written by The Edge   
Friday, 22 October 2010 10:46
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New ADRs on Singapore Exchange’s (S68.SG) GlobalQuote board not seeing much interest; only 11/19 ADRS traded, volume very low, says Dow Jones.

Ctrip.com International ADR (K3RD.SG) -- China based travel services provider -- most traded, at US$51.40 ($66.9) vs US$51.01 close in NY yesterday.

“Trade in ADRs of companies dual-listed in Hong Kong may pick up when the market there gets going,” says trader at local brokerage, but doesn’t expect much activity on the whole.

Says fall in SGX stock, down 2.4% at $9.58, nothing to do with ADR developments; “SGX has gone up a fair bit in the last one to two weeks, so some profit taking and consolidation was in order.”

Baidu.com ADR (K3SD.SG) next most active, at US$103.94 vs US$102.48 close in NY, +2.5%; yesterday China-based search engine said 3Q earnings doubled due to more users.


 

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Last Updated on Friday, 22 October 2010 10:47