Stockpickr

Return to Article

Tuesday's Asia ADR Recap

Stockpickr Staff

Stocks in India fell Tuesday after news broke that the Left allies of the ruling United Progressive Alliance(UPA) have withdrawn their political support for the Indian government in protest of the India-U.S. nuclear deal. Despite the bad news, some analysts in the Far East think it could actually be a positive going forward for Indian markets.

Stocks from India making moves and news in the U.S. include Dr. Reddy's Laboratories(RDY), Albemarle(ALB), and Tata Motors(TTM).

Stocks in China traded mixed Tuesday with shares in mainland China advancing slightly on news the government might delay plans to hike taxes on coal and other commodities. Shares in Hong Kong dove sharply after rumors of a government bailout to support the markets ahead of the Olympics produced no such announcements. Traders said that Far East investors are also concerned about the global credit environment after Lehman Brothers issues a report yesterday that said accounting changes might force Fannie Mae(FNM) and Freddie Mac(FRE) to write-down more credit losses.

Stocks from China making moves and news in the U.S. include Gushan Environment(GU), Baidu.com(BIDU), AirMedia Group(AMCN), and China Southern Airlines(ZNH).

For the rest of the article, including detailed analysis of the latest activity surrounding these and other Chinese and Indian stocks, please click here.

Be sure, also, to check out the Far East Portfolio at Stockpickr.com every night.