Tuesday's Asia ADR Recap

China Eastern Airlines (CEA Quote), China's third largest carrier, announce it might lose 405 million yuan ($58 million) of sales this year after Chinese aviation regulators stripped some of its routes as a punishment for a pilot strike over a labor dispute. The company has cut flights on six routes in southern China's Yunnan Province since April 26 and suspended all flights on two other routes since May 4. The carrier said it plans to file an appeal with the Civil Aviation Administration of China to get the routes back as soon as possible. Shares of CEA finished essentially flat at $41.90.

Chinese enterprise software and online gaming company CDC Corp (CHINA Quote) reported a fourth-quarter net loss of $91.2 million, or 67 cents a share, vs. a net loss of $2.2 million, or 2 cents a share, from a year earlier, due to a number of one-time expenses. Total revenue for 2007 rose 30% to $402.4 million, vs. $309.5 million in 2006. The company forecasted first-quarter revenue of $98 million, vs. Wall Street estimates of $98.6 million. Shares of CDC fell 7.1% to $3.50.

Some big winners among Chinese ADRs Tuesday were Actions Semiconductor (ACTS Quote), which jumped 5.6% to $3.90; Focus Media (FMCN Quote), which rose 5.7% to $39; Giant Interactive Group (GA Quote), which added 4.2% to $14.55l; and China Netcom Group (CN Quote), which traded up 4.1% to $62.02.

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.