Japanese stock ADRs were mostly higher in U.S. trading on the 16th, with Toyota, Takeda and Orix bought following gains in the Tokyo market. Mizuho Financial Group and Nomura, however, fell. Funds appear to have flowed into ADRs, taking their cue from gains in U.S. stocks, and attention is focused on developments ahead.
In U.S. trading on the 16th, American depositary receipts (ADRs) for Japanese stocks were mostly higher, with gains in the Tokyo market spilling over into ADRs. As Japanese stocks broadly showed resilience, taking their cue from the Nikkei average, buying also dominated the ADR market. This article reports developments in the Japanese stock ADR market as fact. Further updates are awaited, while ADR activity could pick up again depending on developments in U.S. markets.
By stock, Toyota Motor, Takeda Pharmaceutical and Orix rose, suggesting that buying to cover previous positions spread across the ADR market. Mizuho Financial Group and Nomura Holdings, meanwhile, were reported to have fallen. These moves reflected supply and demand in individual stocks and are positioned as information that significantly influenced the overall trend.