ADR REPORT-ADRs near flat, though China shares fall
NEW YORK, March 4 |
NEW YORK, March 4 (Reuters) - U.S.-listed shares of overseas companies were nearly flat on Monday, but Chinese ADRs dropped following news of plans to strengthen restrictions on some home buying in China.
The plans also include stricter implementation of an existing 20 percent capital gains tax on home sales, raising some concerns about growth in the country's housing market.
Shares of China Life Insurance Co. were down 1.4 percent at $44.17 in New York while shares of Baidu were down 2.5 percent at $90.26 and shares of Petrochina were down 1.7 percent at $133.61.
Also, shares of energy and mining companies fell along with gold and oil prices.
Shares of Brazilian energy company Petrobras were down 2.2 percent at $14.45 in New York.
Among metals companies, South Africa's AngloGold Ashanti was down 2.7 percent at $23.41, while shares of Canada's Barrick Gold Corp fell 2.6 percent to $28.65.
Spot gold was down 0.1 percent at $1,573.46 per ounce, while front-month U.S. crude oil futures fell 56 cents to settle at $90.12 a barrel.
The BNY Mellon index of leading American depositary receipts was up 0.1 percent, while the Standard & Poor's 500 index was up 0.5 percent.
The BNY Mellon index of leading European ADRs was up 0.4 percent, while the FTSEurofirst 300 index of top shares closed down 0.02 percent.
The BNY Mellon index of leading Asian ADRs was down 0.4 percent and index of leading Latin American ADRs was down 0.5 percent.
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