ADRs in Focus: Emerging markets stocks climb

The U.S. Labor Department said Friday that consumer prices rose by 0.6 percent last month, the biggest one-month increase in six months, but the jump was led mostly by volatile food and energy prices.

Meanwhile, light, sweet crude for July delivery fell $1.88 to settle at $134.86 on the New York Mercantile Exchange as OPEC questioned in a report whether crude prices would remain so elevated through the rest of the year.

The Bank of New York Emerging Markets ADR Index rose 2.72 points to 356.96. ADRs, or American Depositary Receipts, are securities designed to allow U.S. investors to trade shares of companies based overseas.

Perfect World Co. surged $3.26, or 14.9 percent, to $25.15 after the Chinese online gaming company raised its second-quarter sales guidance, citing better-than-expected results from new expansion packs and recent marketing campaigns.

South Africa's Highveld Steel & Vanadium Corp. rose $2.57, or 13.4 percent, to $21.74.

Chinese solar company Suntech Power Holdings Co. advanced $3.62, or 9.7 percent, to $41.10, as a Cowen analyst reiterated his "Outperform" rating on the stock, which he sees as undervalued.

Among the decliners, the South Korean online game distributor Webzen Inc. fell 39 cents, or 9.8 percent, to $3.58.

Brasil Telecom Participacoes SA lost $6.15, or 7.3 percent, to $78.45. A JPMorgan analyst downgraded the fixed-line telecommunication company to "Underweight" from "Neutral," citing a negative outlook on its proposed merger with Tele Norte Leste Participacoes SA.

Linktone Ltd. declined 13 cents, or 6.6 percent, to $1.85. Shares hit an all-time low of $1.79 during in the session.