An index of U.S.-traded shares based in Asia advanced on Thursday, following Wall Street higher on growth in first-quarter gross domestic product and a decline in the price of oil.
The Bank of New York Asia ADR Index rose 1.81 points, or 1.1 percent, to 162.50. ADRs, or American Depositary Receipts, are securities designed to allow U.S. investors to trade shares of companies based overseas.
The broader U.S. market climbed after the Commerce Department revised its reading of first-quarter gross domestic product to an annual rate of 0.9 percent. That tops the department's previous estimate of 0.6 percent and fourth-quarter growth of 0.6 percent.
Investors also were upbeat on a dip in oil prices. Light, sweet crude declined $3.67 to $127.36 a barrel on the New York Mercantile Exchange.
A number of information technology companies rose, including India's Satyam Computer Services Ltd., which gained $1.08, or 4 percent, to $27.55. Sify Technologies Ltd. rose 11 cents, or 2.2 percent, to $5.06, and Wipro Ltd. rose 33 cents, or 2.4 percent, to $13.84. Both companies are also based in India.
On the losing side, solar stocks declined. China Sunergy Co. dipped 52 cents, or 4.2 percent, to $11.52, Trina Solar Ltd. slid $3.24, or 6.6 percent, to $45.42, and Suntech Power Holdings Co. declined $2.62, or 5.9 percent, to $41.75.
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