ADRs in Focus: Asian banks

U.S.-traded shares of Asian financial institutions slipped Wednesday, following Wall Street lower as oil prices rebounded sharply to surge above $136 a barrel on the New York Mercantile Exchange.

In the U.S., shares of investment banks mostly declined. Lehman Brothers Holdings Inc. shed $1.84, or 6.7 percent, to $25.66, losing ground for the third day this week following news it will lose $2.8 million in the fiscal second quarter.

India's ICICI Bank Ltd. dropped $1.12, or 3.3 percent, to $33.05, HDFC Bank Ltd., also based in India, slipped $2.43, or 2.9 percent, to $81.28. South Korea's Shinhan Financial Group Co. gave up $1.32 to $87.74.

Woori Finance Holdings Co., based in South Korea, declined 41 cents to $50.49, Japan's Mitsubishi UFJ Financial Group Inc. slid 34 cents, or 3.4 percent, to $9.56, and Mizuho Financial Group Inc. shed 21 cents, or 2 percent, to $10.06.

The Bank of New York Asia ADR Index declined 1.65 points, or 1.1 percent, to 155.16. The index has declined nearly 7 percent so far this year.

ADRs are securities designed to allow U.S. investors to trade shares of companies based overseas.

Overseas, Japan's closely watched Nikkei 225 average finished 1.16 percent higher. Markets in Hong Kong and mainland China declined, but shares in Australia and South Korea advanced.