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Monday's Asia ADR Recap

Stockpickr Staff

Indian stocks dropped for the third day in a row Monday, after news broke that federal prosecutors are probing the nation's largest drugmaker Ranbaxy Laboratories for allegedly misleading the U.S. government about the quality of its low-cost drugs when seeking approval for its products in the U.S. Selling in the Indian IT sector also pressured the Sensex lower after Morgan Stanley warned Far East investors that further failures of U.S.-based financial companies could hit the sector hard.

Stocks from India making moves and news in the U.S. include Infosys Technologies(INFY), ICICI Bank(IBN) and Sterlite Industries India(SLT).

Chinese stocks traded mixed on Monday with shares in mainland China rising and shares in Hong Kong trading lower, as Far East investors squared up positions and remained on the sidelines ahead of major economic data due out later this week. Traders said that the market will be focused on June inflation data that is set to be released on Thursday.

Stocks from China making moves and news in the U.S. include Baidu.com(BIDU), Shanda Interactive Entertainment(SNDA), Canadian Solar(CSIQ) and Qiao Xing Universal Telephone(XING).

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

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