Friday's Asia ADR Recap: Perfect World

Some leading gainers among Indian ADRs Friday were ICICI Bank(IBN Quote), which rose 3.8% to $36.65; Mahanagar Telephone Nigam(MTE Quote), which added 3.2% to $4.48; Wipro Limited(WIP Quote); which traded up 2.1% to $13.53; and Satyam Computer(SAY Quote), which climbed 2% to $27.30.

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 continued to sink Friday after the Chinese government failed to announce any measures to rescue the plunging stock market. Market players in the region were calling for the government to ask fund managers to buy shares, but those requests were not met.

"The market is just short of funds. Individual investors have panicked and they're busy selling," said Zhang Xiuqi, an analyst at Guotai Jun'an Securities in Shanghai. "So far, it's hard to see any bottom to this market. I don't see any signs of a rebound."

Shares in Hong Kong were driven lower on Friday, led by local property developers on speculation that local banks will hike mortgage rates. Traders cited comments out of Hang Seng Bank vice-chairman Raymond Or, who told the Standard newspaper that a mortgage rate hike could happen in a few days if the interbank rate does not fall.

The Shanghai Composite Index dropped 88.73 points, or 3%, to 2,868.80, and Hong Kong's Hang Seng Index dove 431.56 points, or 1.9%, to 22,592.30. Here's a look at how some China-based American depositary shares traded in the U.S. on Friday.