International stocks trading in New York closed mostly lower on Thursday.
The S&P/BNY Mellon index of American depositary receipts fell 1.7% to 155.80. The European index declined 1.4% to 143.55. The Asian index fell 2.5% to 189.78. And the emerging-markets index fell 2.4% to 324.40.
Meanwhile, the Latin American index improved 0.4% to 227.48.
Chinese companies facing U.S. delisting were among those whose ADRs traded actively.
Baidu Inc. said it was exploring possible solutions after being added to a list of foreign companies facing delisting. Firms face delisting if U.S. regulators can't review their audits for three consecutive years, meaning those companies could be delisted in 2024 at the earliest. Baidu was among the latest round of companies added to the list on a provisional basis on Wednesday, meaning they have 15 days to challenge it. Among the companies added were iQiyi Inc. and Futu Holdings Ltd. Baidu said it will seek to maintain its listing status on Nasdaq and the Hong Kong Stock Exchange. Baidu fell 8% to $132.30; iQiyi fell 10% to $4.54; and Futu fell 13% to $32.56.
PetroChina Co.'s 2021 net profit surged on sharply higher crude prices. PetroChina's natural gas business has been a weak spot, however. The segment's operating profit fell 39% in 2021 despite higher revenue, as surging procurement costs weighed on the bottom line. Citi said it expects the company's imported gas business to suffer a record loss in 2022. ADRs fell 5% to $50.55.
Weibo Corp. closed 0.7% lower at $24.51 after the Chinese company announced a $500 million ADR repurchase program. The program expires on March 31, 2023, MarketWatch reported.
-- WSJ staff
(END) Dow Jones Newswires
03-31-22 1700ET
