| NEW YORK
NEW YORK Jan 30 U.S.-listed shares of foreign
companies edged higher on Wednesday after the Federal Reserve
said it would keep its stimulus plans in place and data showing
the U.S. economy unexpectedly contracted in the fourth quarter.
The statement from the Fed keeping its bond-buying plan in
place confirmed expectations stoked by data earlier on Wednesday
showing gross domestic product fell at a 0.1 percent annual rate
and weakened the dollar.
The softer dollar helps increase the appeal of assets priced
in the greenback such as ADRs to investors as they become
cheaper to purchase.
The BNY Mellon index of leading American depositary receipts
advanced 0.13 percent, while the Standard & Poor's 500
index shed 0.13 percent.
The BNY Mellon index of leading European ADRs
climbed 0.22 percent, while the FTSEurofirst 300 index
of top shares closed down 0.57 percent.
The BNY Mellon index of leading Asian ADRs gained
0.3 percent, helped by a 5.1 percent climb in Canon Inc
to $38.14 after the exporter said it expects a 26.6 percent rise
in operating profit this year as it cuts costs and gets a boost
to revenues from a weakening yen.
On the downside, shares of Korea Electric Power traded in
New York fell 4.9 percent to $14.86 as its chief executive
dampened hopes of a further hike in electric fees this year
after the power supplier raised prices by 4 percent from Jan.
The BNY Mellon index of leading Latin American ADRs
dropped 1.2 percent, weighed down by a 5.2 percent drop in
Petrobras to $18.47 after Brazil's state-run oil company
announced a price hike that was less than hoped.