Tuesday's Asia ADR Recap: Focus Media

Tata Communications(TCL Quote), a leading Indian Internet and telecommunications service provider, announced that it is expanding its network in Africa through a partnership with South African-based communications network operator Neotel. With the partnership, Tata can now offer consumers in South Africa a full global suite of products, including voice and data connectivity, managed security, application traffic management, managed storage and hosted applications, collaboration services, server management and content distribution. Shares of Tata slipped 2.2% to $21.12.

Indian auto maker Tata Motors(TTM Quote) announced that it is seeking the consent of its shareholders to raise $1 billion to finance more acquisitions and strategic alliances in India and overseas. In a notice to shareholders, the company asked for approval to raise up to $1 billion through the issue of Foreign Currency Convertible Bonds or equity shares in the international market and raise its borrowing limit to $5 billion. The company said it has major plans to expand its product line and presence in India and abroad for commercial and passenger vehicles. Shares of Tata Motors finished down 1.2% to $12.02.

Leading the losers list among Indian ADRs Ton uesday were Sterlite Industries(SLT Quote), which dropped 4.3% to $18.90; Sify Technologies(SIFY Quote), which moved down 3.8% to $4.28; and Wipro Limited(WIT Quote), which dove 2.9% to $13.12.

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 plunged Tuesday in both mainland China and Hong Kong after investors returned to a negative backdrop following a public holiday on Monday. The People's Bank of China said over the weekend that it would hike the reserve ratio, for the fifth time this year, for commercial banks by a full percentage point to a record 17.5% in an effort to slowdown the booming Chinese economy. Analysts said the move could cause a hit to corporate earnings for Chinese banks as they rein in lending practices to adjust to the new ratio.