Monday's Asia ADR Recap

American depositary shares of Baidu closed higher by 2% at $300, and ADRs of Sohu finished down by 4.4% at $49.13.

CDC Software, a subsidiary of China's CDC (CHINA Quote), announced it has acquired a 22% stake in China's Tenly Software. The term sheet also leaves room for CDC software to raise its stake up to 37%. Both firms also plan to form a joint venture, with CDC Software providing services and support for Tenly customers, while Tenly sells CDC Software products to their customer base. CDC software will control 60% of the joint venture. Shares of CHINA finished up 3.2% at $4.14.

In the Chinese airline sector, Shanghai-based China Eastern Airlines (CEA Quote) said 21 flights last week were aborted by pilots of the company's subsidiary Yunnan Airlines as part of a staged strike and not canceled due to poor weather conditions, according to the company's Web Site. Local media reports said the strike was over pay and issues with pilots working for another airline. Some of the pilots involved in the strike and the general manager of Yunnan have been suspended. Shares of CEA rose 2.4% to $49.89.

Chinese online game operator The9 (NCTY Quote) announced it has named Tony Tse as its chief financial officer replacing Hannah Lee, effective April 7. Tse formerly worked at UOB Asia and served as vice president of equity capital markets for DBS Asia Capital. Shares of The9 rose 6% to $21.09.

Some Chinese ADRs that popped big Monday were China Finance Online (JRJC Quote), which surged 12% to $17.46, and CNinsure (CISG Quote), which spiked up 9.8% to $13.64; a few that made big drops were Yingli Green Energy (YGE Quote), which fell 11% to $20.13, and LDK Solar (LDK Quote), which lost 10% to $32.50.

Be sure to check out the Far East Portfolio at Stockpickr.com every night to find out which stocks in India and China are making big moves and announcing major news.

For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.