China ADRs Rise First Time in Six Days on Stimulus Speculation
China’s American depositary receipts rose, ending five days of declines for the benchmark index, on mounting speculation the Federal Reserve may signal plans to bolster the economy.
The Bank of New York Mellon China ADR Index, which tracks Chinese ADRs listed in the U.S., gained 1.1 percent to 377.69 at 9:56 a.m. in New York. It climbed as much as 1.3 percent earlier. The gauge plummeted 7.3 percent yesterday, the most since November 2008, amid a global equities rout after Standard & Poor’s cut the U.S. debt rating for the first time.
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