Non-US equities trading up

There is some good news in the subdued ADR market.

Amidst an economic slowdown in the US, a new study reveals a global decrease in ADR new issuance but positive long-term increase in non-US equities trading.

In a report published by Citibank Depositary Receipt Services, global ADR new issuance for the first half of year 2001 is down and the trading volume has dropped to last yearÆs record levels. Of the top 25 ADRs this year, only three were Asian company Taiwan Semiconductor Manufacturing Company and United Microelectronics Corporation UMC, both from Taiwan and Asia Pulp and Paper from Singapore. 

Nevertheless, the study indicates a steady increase of 34% in self-directed investments by individual US investors in non-US equities. Seven Asian...

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