ADRs End Lower, Futu Holdings, Up Fintech, Vodafone, Sea Ltd. Trade Actively

By Sabela Ojea

International stocks trading in New York closed lower on Tuesday.

The S&P/BNY Mellon index of American depositary receipts fell 0.9% to 150.93. The European index dived 1% to 149.30, the Asian index declined 0.8% to 168.28, the Latin American index dropped 1.2% to 191.87 and the emerging markets index decreased 0.5% to 279.65.

ADRs of Futu Holdings and Up Fintech Holding on Tuesday fell 4.4% to $41.24 and 7.4% to $2.64, respectively, after the WSJ reported the online brokerages, known as Tiger Brokers, are planning to remove apps from online stores in China that allow their customers to trade stocks overseas, according to people familiar with the matter.

ADRs of Vodafone Group PLC declined 8.8% to $10.24 after the mobile-phone operator said it plans to cut 11,000 jobs over three years as part of Chief Executive Margherita Della Valle's plan to turn around the group's performance.

ADRs of Sea Ltd. tumbled 18% to $72.45 after the Southeast Asia internet services giant missed expectations for the first quarter as its video game unit underperformed.

Write to Sabela Ojea at [e-mail]; @sabelaojeaguix

(END) Dow Jones Newswires

05-16-23 1802ET