Wednesday's Asia ADR Recap: ReneSola

Fitch Ratings announced it has affirmed the AAA rating for HDFC Bank's (HDB - Cramer's Take - Stockpickr) assignment of loan receivables portfolio. The portfolio is made up of loans for cars, commercial vehicles and two-wheelers. Shares of HDFC finished down 0.5% to $106.07.

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 China traded mixed Wednesday with shares in mainland China rising and shares in Hong Kong falling slightly. Traders said that mainland stocks jumped on hopes that Monday's 7.9 magnitude earthquake will not cause any major disruptions to China's economy. The official death toll from the quake has risen to 15,000 with 60,000 people still unaccounted for.

"The market has not been badly affected by the earthquake; I think China is better equipped to handle an earthquake than in the past," said Najeeb Jarhom, senior vice president of research at AmFraser Securities.

The Shanghai Composite Index jumped 97 points, or 2.7%, to 3,657, and Hong Kong's Hang Seng Index finished lower by 19 points, or 0.08%, at 25,533.

RBC Capital Markets reiterated its outperform rating on Chinese alternative energy company JA Solar (JASO - Cramer's Take - Stockpickr) and raised its price target from $21 to $26. In a note to clients, RBC analysts said JA Solar is well-positioned to take market share due to the company's strong product mix. RBC also raised its EPS estimates for 2008 from 71 cents to 96 cents. American depositary shares of JA Solar, which trade on the Nasdaq, rose 1.9% to $24.17 on 3 times the average daily volume.