ADRs End Higher; Carnival Gains as Chinese Tech Sector Notches Losses

By Matt Grossman

International stocks trading in New York closed higher Wednesday.

The S&P/BNY Mellon index of American depositary receipts rose 2.3% to 157.56. The European index improved 1.8% to 143.37. The Asian index gained 3.1% to 205.05. The Latin American index increased 1.1% to 175.17. And the emerging-markets index rose was up by 3.4% at 334.55.

Carnival Corp. added to its gains this week, with its ADRs rising 3.1% for a close at $19.37. Investors have been bidding the share price higher since Monday, when the cruise operator said it has had strong advance bookings for late next year into 2023, and forecast that it will be profitable in the second half of 2022.

Chinese internet giant Alibaba Group Holding Ltd.'s ADRs dropped 4.2% Wednesday, ending the day at $117.81. Chinese state media reported that the country's authorities suspended a cybersecurity partnership with Alibaba's cloud-computing unit, following delays in reporting a widespread software vulnerability.

ADRs of several other Chinese tech firms also finished lower. Social-media site Weibo Corp. gave up 3.7% to close at $30.21. Baidu Inc. lost 0.9%, closing at $143.46, while Renren Inc., another social-media service, was down 3.3% on the day at $12.50.

Write to Matt Grossman at [e-mail]

(END) Dow Jones Newswires

12-22-21 1627ET