NEW YORK, March 15 U.S.-listed shares of foreign
companies ticked lower on Friday on weakness in Chinese stocks,
but they eked out a second straight weekly gain.
Markets in Hong Kong and China ended their worst week in
three, dragged down by shares of Chinese property developers
after official media reported that new curbs on the housing
market will be strictly enforced.
U.S.-traded shares of Xinyuan Real Estate Co dropped
1.8 percent to $4.78 and China Life Insurance Co fell
1.8 percent to $42.53.
The BNY Mellon index of American depositary receipts of
Chinese companies fell 0.9 percent and weighed on the
Asian ADR index, which fell 0.3 percent.
The broader BNY Mellon index of leading ADRs fell
0.21 percent, while the S&P 500 index dipped 0.16
For the week, the ADR index rose 0.18 percent and the S&P
500 added 0.61 percent.
The BNY Mellon index of leading European ADRs
dipped 0.14 percent, while the FTSEurofirst 300 index
of top shares closed down 0.4 percent.
ADRs of carnival plc fell 2.7 percent to $36.13
after the company, grappling with a series of recent mishaps
involving its ships, said it returned to profitability in the
latest quarter but cut its revenue and profit forecast for the
The BNY Mellon index of leading Latin American ADRs
fell 0.5 percent.
America Movil ADRs finished their worst week since
late October 2008, falling 3.9 percent, a day after a
congressional committee passed a bill that aims to loosen tycoon
Carlos Slim's dominance of the telecommunications market.