NEW YORK, Oct 7 (Reuters) - Shares of overseas firms traded in the United States were flat on Wednesday as declines in telecoms and Brazilian banks were offset by gains in Chinese companies.
Among the volume leaders in the session, Taiwan Semiconductor (TSM.N) fell 1.9 percent to $10.17, Paris-based Alcatel-Lucent (ALU.N) gained 3.6 percent to $4.60 and Brazilian miner Vale (VALE.N) rose 2.3 percent to $24.41.
The Bank of New York Mellon index of leading American Depositary Receipts (ADRs) .BKADR fell 0.02 percent while the U.S. benchmark S&P 500 index .SPX edged up 0.27 percent.
On a regional breakdown, Latin American ADRs were the worst performers, hurt by declines in Brazilian banks in the wake of an $8 billion initial public offering by Santander Brasil (SANB11.SA), the Brazilian unit of Banco Santander (SAN.MC).
Santander Brasil's shares sank due to the size and prize of the offer, traders said. For details see [ID:nN07475718]
ADRs of Santander Brasil (BSBR.N) fell 2.9 percent to $13.01. Top Brazilian banks Itau Unibanco (ITUB.N) and Banco Bradesco (BBD.N) fell 2.5 percent and 3.7 percent respectively.
The BoNY Brazilian ADR index .BKBR lost 0.25 percent and the index of Latin American ADRs .BKLA fell 0.24 percent.
Telecommunications companies weighed on the European ADR index .BKEUR, which fell 0.06 percent.
Top drags included UK's Vodafone Group plc (VOD.N), down 1.1 percent to $22.14 and Spain's Telefonica (TEF.N), down 1.4 percent to $83.86. The BoNY international telecom 35 index .BKTTL slipped 0.86 percent.
Japanese telecoms Nippon Telegraph and Telephone (NTT.N) and NTT DoCoMo (DCM.N) also posted losses, and limited gains on the BoNY Asian ADR index .BKAS, up 0.19 percent.
The Asian index was buoyed by gains in Chinese firms including bellwethers PetroChina Co Ltd (PTR.N), up 1.9 percent to $118.32 and China Mobile Ltd (CHL.N), up 1 percent to $50.13, bucking the global bearish telecoms trend.
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