ADR Report-ADRs down on Japanese electronics makers

By Jennifer Coogan

NEW YORK, April 8 (Reuters) - U.S.-listed shares of overseas companies traded lower on Tuesday, led by declines in Japanese electronics makers.

The Bank of New York's index of leading American Depositary Receipts (ADRs) .BKADR was down 0.6 percent while the 30-share Dow Jones industrial average .DJI was down 0.3 percent at 12,578.31.

The Bank of New York's index of leading Asian ADRs .BKAS was down 1.3 percent. In Asia, shares ended lower in all major markets.

U.S.-listed shares of Matsushita Electric Industrial Co Ltd MC.N fell 4.5 percent to $20.38 after Nikko Citigroup cut its rating on the world's largest plasma television maker. Nikko Citigroup also cut its price target on Sony Corp, a rival of Matsushita.

Sony ADRs (SNE.N: Quote, Profile, Research) fell 4.6 percent to $40.52 on the New York Stock Exchange.

Other Japanese ADRs trading lower were electronics parts makers TDK Corp (TDK.N: Quote, Profile, Research), down 1.4 percent at $61.05, and Kyocera Corp (KYO.N: Quote, Profile, Research), down 1.4 percent to $83.96.

U.S.-listed shares of Posco (PKX.N: Quote, Profile, Research) were another drag on the market. The South Korean steelmaker's ADRs were down 1.6 percent to $128.43 after it confirmed on Monday that it will incur a sharp price increase from an Australian coal supplier.

The Bank of New York's index of leading European ADRs .BKEUR was down 0.6 percent. In Europe, major indexes closed the session lower.