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Thursday's Asia ADR Recap: Simcere Pharma
05/09/08 - 05:28 PM EDT
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Indian mining company Sterlite Industries SLT, the Orissa government and Orissa Mining Corporation have been asked by the Indian Supreme Court to file an affidavit to jointly form a special purpose vehicle (SPV), according to livemint.com. The purpose of the SPV will be to absorb the financial costs of social and environmental safeguards for the areas affected by the bauxite mining project in Orissa. Shares of Sterlite fell 2.5% to $20.40. The only bright spot among Indian ADRs Friday was the technology complex. Sify Technologies SIFY traded up 2.3% to $4.80; Satyam Computer SAY added 1.9% to $26.02; WNS WNS rose 1.5% to $18.04; and Patni Computer Systems PTI finished up 1.2% at $12.81. 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.
China Recap
Chinese stocks finished in the red Friday after the producer price index, which is widely used as an inflation indicator, hit a three-year high at 8.1% for April. Fearing that even worse inflation data could be released on Monday, when China is due to report its April CPI data, Far East investors dumped equities going into the weekend. "Investors want to see whether the central bank will take any further tightening measures in light of what the figures show," said Patrick Shum, strategist at Karl Thomson Securities in Hong Kong. Traders said that major market players will be watching the 25,000 level on the Hang Seng for critical support. A break of that level with volume could bring out more sellers.Anadarko is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
These are some of the stocks Cramer's been talking about lately.
PetMed Express reports financial results on Monday. The heavily shorted stock could climb on a beat.
Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.
Catch up on his thinking on the hottest topics of the past week.
Investors will have to deal with a Fed meeting and another flood of earnings and economic data.
Ensco International and Echelon have the potential to move higher in coming days.
See who made what calls.
The addition of video is helping telecom companies compete against cable and satellite companies.
The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.
See who made what calls.
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