NEW YORK May 11 U.S.-listed shares of foreign
companies fell on Friday on concerns about Europe's festering
debt crisis and weak data from China that pointed to a sharp
slowdown in the world's second-largest economy.
The BNY Mellon index of leading American depositary receipts
fell 0.7 percent, while the Standard & Poor's 500 index
lost 0.3 percent.
The BNY Mellon index of leading Asian ADRs fell 0.9
percent. In Asia, Hong Kong shares ended their worst week in
almost eight months with a seventh straight day of losses, after
a slew of weaker-than-expected April data signaled a steeper
slowdown in China.
U.S.-listed shares of Chinese companies were mostly lower on
Friday. China Petroleum lost 1.2 percent to $98.88 and
China Mobile lost 1 percent to $56.17. China Life
Insurance Co shares also fell 0.9 percent to $38.45.
U.S.-traded shares of Japanese companies also declined,
after the Nikkei share average sank below 9,000 for a
sixth straight week of losses. In Asian trading, shares of Sony
Corp tumbled to nearly a 32-year-low on investors'
doubts about whether Japan's huge consumer electronics company
has a strategy to fix its money-losing TV business and compete
in the smartphone market with Apple and Samsung.
U.S.-listed shares of Sony Corp lost 7.8 percent to
$14.18. Shares of Panasonic Corp lost 2.2 percent to
The BNY Mellon index of leading European ADRs
slipped 0.5 percent. The FTSEurofirst index of top
European shares rose 0.3 percent to close at 1,022.52 points,
after spending much of the day in negative territory. At one
point, the index had fallen as much as 1.2 percent to an
intraday low of 1,006.89 points.
The BNY Mellon index of leading Latin American ADRs
lost 1.3 percent.
(Reporting by Angela Moon; Editing by Jan Paschal)