ADRs End Lower; Alibaba Trades Actively
International stocks trading in New York closed lower on Friday.
The BNY Mellon index of American depositary receipts declined 0.3% to 149.61. The European index decreased 0.2% to 138.24. The Asian index fell 0.2% to 178.66. The Latin American index fell 1.6% to 239.40. And the emerging-markets index declined 0.4% to 323.05.
Alibaba Group Holding Ltd. (>> Alibaba Group Holding) was among those with ADRs that traded actively.
ArcelorMittal (>> ArcelorMittal SA) reported global steel prices are now how higher than in North America, as steel demand rebounds strongly in Europe and elsewhere. The company's third-quarter shipments of steel from the U.S., Mexico and Canada rose 5% from a year earlier and were up 4% from volume in the second quarter. ADRs rose 3.5% to $29.14.
Alibaba reported that Alipay processed 256,000 payment transactions per second at peak within the first hour of the annual shopping extravaganza known as Singles Day. Millions of Chinese consumers were glued to their smartphones Saturday in China, buying shoes, clothes, cosmetics and more. ADRs rose 0.7%.
Hanwha Q CELLS Co. (>> Hanwha Q Cells Co Ltd -ADR) said that revenue in its third quarter was $543.0 million, down from $707.8 million in the same quarter a year before. ADRs fell 7.6%.
Xinyuan Real Estate Co. (>> Xinyuan Real Estate Co., Ltd. (ADR)) reported third-quarter revenue of $482.4 million, up 8.6% from a year prior. ADRs rose 4.7%.