ADR REPORT-Japanese ADRs rise 1 pct on yen weakness
NEW YORK May 13 (Reuters) - U.S.-listed shares of Asian companies rose more than 1 percent on Monday, led by gains in top Japanese exporters as the dollar climbed against the yen for a third session.
Shares of Toyota rose 2.9 percent to $124.83 in New York, while shares of Honda Motor gained 1.1 percent to $40.83 and shares of Canon advanced 1.2 percent to $35.78.
Also, shares of Sony jumped 5.4 percent to $18.89.
Among other Japanese ADRs, Mitsubishi UFJ Financial Group shares shot up 7.5 percent to $7.20 and Mizuho Financial Group shares were up 5.3 percent at $4.53.
The dollar, which broke through the 100-yen mark last week, hit its highest level against the yen since October 2008 after Group of Seven finance officials over the weekend held back from directly criticizing Japan's monetary policy. The dollar last traded at 101.84 yen, up 0.2 percent on the day.
The BNY Mellon index of leading Asian ADRs climbed 1.3 percent, outperforming the BNY Mellon index of leading American depositary receipts, which ended flat. The Standard & Poor's 500 index also ended near unchanged.
Japan's benchmark Nikkei index hit a 5-1/2-year high on Monday on the yen's weakness.
ADRs of European and Latin American companies were lower.
The BNY Mellon index of leading European ADRs was down 0.5 percent, while the FTSEurofirst 300 index of top shares closed down 0.2 percent.
Bank shares were among the biggest decliners. Shares of Deutsche Bank were down 1.1 percent at $46.98.
Shares of Irish drugmaker Elan fell 1.4 percent to $11.61 after it agreed to a $1 billion deal to buy 21 percent of the royalties that U.S.-based Theravance receives from GlaxoSmithKline for its respiratory drugs. Shares of GlaxoSmithKline were up 0.1 percent at $51.67.
Shares of Dublin-based Warner Chilcott rose 5 percent to $18.91. On Friday, Actavis, a global drugmaker, said it was in early stage discussions to buy Warner Chilcott.
The BNY Mellon index of leading Latin American ADRs was down 0.4 percent.
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