The Americas: ADR trading volume up, despite weak markets

From: Global Finance | Date: February 1, 2003| Author: | Copyright information

Trading of American depositary receipts rose 6.8% in volume terms in 2002 to 28 billion shares, according to New York-- based Citibank Depositary Receipt Services.

Overall trading volume continued to rise, particularly for Asian issuers, indicating investors' ongoing interest in ADRs despite weak market conditions, says Kurt Schneiber, global managing director of the Citigroup unit.

There was an increase of 15.9% in volume for ADRs from the

Asia/Pacific region last year, compared to a decline of 0.7% for issuers in Western Europe and a drop of 3.7% in volume for Latin American issuers.

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