Tuesday's Asia ADR Recap

The venture capital arm of U.S. semiconductor-chip maker Intel (INTC Quote) announced it has formed a new $500 million China fund that will focus on investing in Chinese technology startups like wireless broadband, technology media and telecommunications firms. The fund has already kicked off operations by investing in game network platform maker Holdfast Online Technology and television equipment maker Newauto Video Technology. Shares of Intel closed lower by 3% at $21.08.

Chinese manufacturer and supplier of branded generic pharmaceuticals Simcere Pharmaceutical Group (SCR Quote) received some good news Tuesday after analyst Jodie Wehner of Global Hunter Securities initiated coverage of the firm with a buy rating and an 18-month price target of $18. Wehner cited a growing generic-drug market in China and an aggressive acquisition strategy for reasons to favor Simcere. Shares of Simcere fell 3% to $11.50.

In the Chinese alternative energy sector, LDK Solar (LDK Quote) announced it intends to offer around $300 million in senior convertible notes to help fund the construction of a polysilicon manufacturing plant, according to a company press release. The news of the offering comes just as the company was informed of the Securities and Exchange Commission's decision to not take action against the firm for allegations of overstating its polysilicon inventories. Shares of LDK finished higher by 2% $33.15.

Among Chinese ADRs that dropped noticeably Tuesday were, E-House Holdings (EJ Quote), which fell 8% to $13.62; China Finance Online (JRJC Quote), which lost 7.7% to $16.10; AirMedia Group (AMCN Quote), which declined 5.6% to $16.86; and Uranium Participation (U Quote), which closed lower by 4.4% to $8.85.

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.