Friday's Asia ADR Recap: PetroChina

Indian auto maker Tata Motors(TTM Quote) announced it will explore opportunities for bringing its recently acquired British luxury car brands Jaguar and Land Rover into the Indian market, where a booming economy has created many millionaires. "Like Russia and China, Jaguar and Land Rover (JLR) would be exploring the Indian market also. A team will be coming to India to study the market," Tata Motors' managing director, Ravi Kant, said on a conference call on Friday. Shares of Tata dropped 3.4% to $12.50.

Not a single Indian ADR traded higher on Friday. Leading the losers list were Tata Communications(TCL Quote), which plunged 10.6% to $22.17; HDFC Bank(HDB Quote), which fell 7.4% to $86.58; Satyam Computer(SAY Quote), which dove 5.5% to $26.97; and Wipro Limited(WIT Quote), which traded down 5.5% to $13.72.

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 traded mixed Friday with shares in mainland China falling marginally due to rising oil prices and with stocks in Hong Kong trading higher lead by gains in energy stocks. Analysts are predicting that Chinese stocks could advance next week if government data shows that China's consumer-price inflation fell in May. However, some market observers are worried that the super spike seen in crude oil in afternoon trading on Friday will pressure equities lower in the coming days.

"The market is expecting inflation to drop below 8%. If that turns out to be right, then it will be a very positive signal, as the credit tightening in China has been a source of major concern in both Shanghai and Hong Kong," said Steven Leung, director at UOB Kay Hian in Hong Kong.