ADRs End Lower, Alibaba and AstraZeneca Trade Actively
24 September 2022 - 12:41AM
Dow Jones News
By Denny Jacob
International stocks trading in New York closed lower on
Friday.
The S&P/BNY Mellon index of American depositary receipts
dropped 3.4% to 122.28. The European index retreated 3.9% to
113.71. The Asian index lost 2.4% to 147.90. The Latin American
index declined 4.9% to 178.75, while the emerging-markets index
tumbled 3% to 255.39.
Alibaba Group Holding Ltd. was among those whose ADRs traded
actively.
The Chinese e-commerce company declined 2.4% as U.S. regulators
on Thursday started inspecting China-based audits, kicking off a
monthslong process that will determine whether companies from
Alibaba to Yum China Holdings Inc. can remain listed on American
stock exchanges.
Pharmaceutical company AstraZeneca PLC tumbled 3.1% after its
Ultomiris drug was approved in the European Union for the treatment
of adults with the rare disease generalized myasthenia gravis.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 23, 2022 18:26 ET (22:26 GMT)
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