US STOCKS-Chinese, Brazilian names lead decline in ADR market
By Caroline Valetkevitch
NEW YORK, Sept 29 (Reuters) - U.S.-listed shares of overseas companies were down more than 1 percent on Monday, led by declines in Chinese and Brazilian ADRs.
Protests in Hong Kong have added to worries about growth in China. Shares of PetroChina were down 3 percent, while shares of China Life Insurance Co were down 2.1 percent and shares of China Petroleum and Chemical were down 3 percent.
In Brazil, stocks were on track for their biggest one-day drop in three years after an election poll showed President Dilma Rousseff gaining on challenger Marina Silva ahead of Sunday's election. Investors have criticized Rousseff's government for enacting policies that have gone against minority shareholder interests in state-run companies.
Shares of Brazil's state-run oil company Petrobras were down 10.3 percent in New York and among the day's most actively traded on the New York Stock Exchange. Shares of miner Vale were down 2.3 percent.
Index snapshot at 13:04 EDT:
* S&P 500 was falling 8.4 points, or 0.42 percent.
* Nasdaq Comp was losing 13.03 points, or 0.29 percent. Continuación...