ADRs End Mostly Higher; China Life, Baidu Trade Actively
August 25 2017 - 6:10PM
Dow Jones News
International stocks trading in New York closed mostly higher on
Friday.
The BNY Mellon index of American depositary receipts improved
0.35% to 144.77. The European index rose 0.52% to 134.35. The Asian
index edged up 0.06% to 168.74. And the Latin American index
increased 0.14% to 248.09.
Meanwhile, the emerging-markets index declined 0.16% to
316.22.
Baidu Inc. (BIDU, K3SD.SG) and China Life Insurance Co. (LFC,
2628.HK, 2823.TW, 601628.SH) were among those with ADRs that traded
actively.
Baidu continues to zero in on artificial intelligence by setting
up a $1 billion private-equity fund with China Life that will focus
on mid- to late-stage investments in areas such as AI, internet
finance and mobile internet. China Life will contribute as much as
CNY5.6 billion ($841 million) and Baidu will provide CNY1.4
billion. The move comes as Baidu is selling its takeout-delivery
business to rival Ele.me in an effort to regroup and prioritize its
business verticals beyond internet search. Baidu ADRs rose 0.31% to
$225.55 while China Life's rose 6% to $16.20.
(END) Dow Jones Newswires
August 25, 2017 17:55 ET (21:55 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Baidu (NASDAQ:BIDU)
Historical Stock Chart
From Aug 2024 to Sep 2024
Baidu (NASDAQ:BIDU)
Historical Stock Chart
From Sep 2023 to Sep 2024