ADR Report-ADRs inch up, helped by Taiwan tech shares

By Jennifer Coogan

NEW YORK, April 10 (Reuters) - U.S.-listed shares of overseas companies edged higher on Thursday, helped by gains in Taiwan-based technology-sector companies.

The Bank of New York Mellon's index of leading American Depositary Receipts (ADRs) .BKADR was up 0.3 percent while the 30-share Dow Jones industrial average .DJI was up 0.8 percent at 12,624.07.

All Taiwan-based shares traded on the New York Stock Exchange were higher, led by a jump in TSMC (TSM.N: Quote, Profile, Research) after the top contract chip maker reported higher quarterly sales, boosting optimism that the semiconductor industry will recover from a tough first quarter.

TSMC ADRs were up 3.7 percent to $10.58. Other big Taiwanese gainers were Advanced Semiconductor Engineering Inc (ASX.N: Quote, Profile, Research), up 6.3 percent to $5.25 on the NYSE, and Silicon Precision Industries Co (SPIL.O: Quote, Profile, Research), up 3.8 percent to $8.94 on the Nasdaq.

The Bank of New York Mellon's index of leading European ADRs .BKEUR was unchanged. In Europe shares ended modestly lower.

U.S.-listed shares of Swedish telecom equipment maker Ericsson (ERIC.O: Quote, Profile, Research) were up 3 percent at $20.18 after Jyske bank lifted its rating on the company to "accumulate" from "reduce."

Novartis AG ADRs (NVS.N: Quote, Profile, Research) were down 2.5 percent to $47.96 after the U.S. Food and Drug Administration said it is investigating whether two transplant drugs made by the Swiss drugmaker and its rival Roche Holding AG (ROG.VX: Quote, Profile, Research) could be linked to a central nervous system disorder.

The Bank of New York Mellon's index of leading Asian ADRs .BKAS was up 1 percent. In Asia, shares ended higher in most major markets, except for Tokyo's Nikkei, which fell sharply.