Monday's Asia ADR Recap: SINA

According to economictimes.com, Reliance Money, the brokerage division of Reliance-ADAG, announced a partnership with leading Indian Internet company Sify Technologies (SIFY Quote) to sell and market its financial products and services like mutual funds, credit cards and insurance products to daytraders and young consumers through Sify's Internet cafes. Shares of SIFY closed up 2.7% at $4.93.

Leading the gainers among Indian ADRs Monday were software and service exporters like WNS (WNS Quote), which rose 3.6% to $18.70; Infosys Technologies (INFY Quote), which added 1.5% to $43.58; and Satyam Computer (SAY Quote), which climbed 1.5% to $26.42.

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

Stocks in mainland China rose slightly Monday despite a consumer price index (CPI) report that showed inflation near 12-year highs and news of a major earthquake that rocked more than half of the country's provinces. China's CPI for April rose to 8.5%, vs. 8.3% in March, due to a spike in food prices. The People's Bank of China immediately responded by ordering banks to raise their reserve ratio to a record 16.5% from 16%.

"Underlying inflationary pressures remain undiminished," said Goldman Sachs economists Yu Song in a note to clients.

China's official Xinhua News Agency said a major earthquake killed 8,533 people in Sichuan province and more than 200 were killed in three other provinces and in Chongqing. Chinese officials said the earthquake had a magnitude of 7.9 and was one of the worst to hit China since the deadliest quake in the country's history struck Tangshan on July 28, 1976, killing 240,000 people. Traders said the quake didn't affect the markets because the perception was that the economy wouldn't be hurt.