ADRs in Focus: E-House backs 2Q sales outlook

American Depositary Receipts of E-House Holdings, a real estate services company based in China, rose on Monday after the company backed its second-quarter sales outlook.

E-House previously predicted second-quarter sales between $41 million and $44 million, an increase between 71 percent and 83 percent from a year ago.

Analysts polled by Thomson Financial expect $42.4 million in sales for the quarter.

E-House said the Chinese real estate industry is sluggish, compared to a year ago, partly because of the earthquake in the Sichuan Province. However, E-House expects total revenue for the second quarter to remain within previous expectations because of growing market share.

"E-House's ability to continue to achieve growth despite challenging market conditions is a reflection of the success of our growth strategy and our enhanced competitive strength," said Xin Zhou, E-House chairman and chief executive officer.

E-House ADRs advanced 85 cents, or 8.1 percent, to $11.35.

The Bank of New York Asia ADR Index, which tracks shares of companies based in China, India, Australia and elsewhere, rose 1.43 points to 150.45. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors trade shares of companies based overseas.

On Wall Street, stocks were mixed as the price of oil declined from a high and temporarily relieved inflation worries.