The US stocks trade sharply lower on Tuesday as worries deepened about Europe's debt crisis and the weak U.S. economy, despite better-than-expected services sector data, which showed unexpected improvement in August from the month before.
The Bank of New York Index for American Depository Receipts' (ADR) was trading lower by 5.37 points, or 4.37 percent to 117.59 on Tuesday, with China-based agricultural company, Agria Corporation (NYSE: GRO) being the biggest gainer in the index.
Agria Corporation (NYSE: GRO) was trading higher by 12.08 percent to $1.67 on Tuesday. Among the biggest decliner was Switzerland-based financial services company, Credir Suisse Group AG ADR (NYSE: CS), which was trading lower by 13.73 percent to $23.62 an ADR. The Swiss bank came under pressure after US Federal Reserve propped a new tax treaty.
The European Index for the ADR's was trading down by 4.64 points, or 4.15 percent to $107.13, today.
For the European ADR's, France-based biopharmaceutical company, Flamel Technologies SA ADR (Nasdaq: FLML) was the lone gainer with gains of 0.22 percent to $4.50 on Tuesday. Among the decliner in the index are, Scotland-based financial institution, Royal Bank of Scotland Group plc ADR (NYSE: RBS), was trading lower by 14 percent to $6.82 an ADR, and Switzerland-based financial services company, Credir Suisse Group AG ADR (NYSE: CS), which was trading lower by 13.73 percent to $23.62, today.
The Asian ADR index lost 3.34 points, or 2.75 percent to 118.19 on Tuesday.
Among the biggest gaining ADR's, is a China-based agricultural company, Agria Corporation was up 12.08 percent to $1.67 an ADR, Indonesia-based Indosat tbk PT (NYSE: IIT) was trading higher by 6.27 percent to $33.39, and Indonesia-based telecommunication service provider, Perusahaan Perseroan (Persero) PT Telekomunikasi Indonesia Tbk. (NYSE: TLK), was trading higher by 4.71 percent to $35.54 an ADR on Tuesday. Among the Decliners are, Japan-based semiconductor manufacturer, Advantest Corp. ADR (NYSE: ATE), which was trading lower by 9.21 percent to $11.34 an ADR., and Japan-based manufacturer and sale of power tools, air tools and gardening equipment, Makita Corporation ADR (Nasdaq: MKTAY), which was trading lower by 9.05 percent to $36.60 an ADR on Tuesday.
The Latin American Index was down by 13.54 points, or 3.75 percent to 347.72 today.
Peru-based precious metal company, Compania de Minas Buenaventura SA ADR (NYSE: BVN) was trading higher by 0.91 percent to $47.71 on Tuesday. Mexico-based an airport and maintenance company, Grupo Aeroportuario Centro Norte, S.A. de C.V. (Nasdaq: OMAB) was trading higher by 0.60 percent to $13.47. Among the decliners are, Brazil-based telecommunications service provider, TIM Partcipacoes SA ADR (NYSE: TSU) was down 9.65 percent to $26.58 an ADR today, and Argentina-based financial institution, Grupo Financiero Galicia S.A. (Nasdaq: GGAL) was trading lower by 6.25 percent to $10.50 an ADR.