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ADR REPORT-Foreign shares led lower by Chinese companies
July 16, 2012 / 6:18 PM / 5 years ago

ADR REPORT-Foreign shares led lower by Chinese companies

NEW YORK, July 16 (Reuters) - U.S.-listed shares of foreign companies fell on Monday as investors fretted about the profit outlook for large-cap Chinese companies amid slowing growth in the world’s second-largest economy.

The BNY Mellon index of leading Asian American depositary receipts lost 0.7 percent. China’s large-cap share index closed at its lowest in six months, while the Shanghai Composite index finished at its lowest in more than three years, hit by a slew of profit warnings.

The BNY Mellon index of leading ADRs fell 0.4 percent, while the Standard & Poor’s 500 index lost 0.3 percent.

U.S.-listed shares of China Petroleum lost 1.2 percent to $86.81 and Baidu Inc shares were off 1.5 percent at $108.09.

However, other Asian stock markets extended a rally on Monday.

Traders awaited Federal Reserve Chairman Ben Bernanke’s semiannual testimony to U.S. congressional committees on the economy set for Tuesday and Wednesday.

The BNY Mellon index of leading European ADRs slipped 0.1 percent.

The BNY Mellon index of leading Latin American ADRs lost 0.8 percent.

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