Friday's Asia ADR Recap: Perfect World

Shares of Chinese online game provider and operator Perfect World(PWRD Quote) surged 14% after the company raised its second-quarter sales guidance, citing better-than-expected results from new expansion packs and recent marketing campaigns. The company said second-quarter revenues will come in between 333 million yuan ($48.3 million) and 348 million yuan ($50.5 million), vs. Wall Street estimates of $44.2 million. American depositary shares of Perfect World, which trade on the Nasdaq, ripped higher by $3.26 to $25.15 on over three times the average daily volume.

The strong guidance out of Perfect World helped boost a few other Chinese online gaming stocks. Shares of NetEase.com(NTES Quote) soared 9.2% to $22.99, Shanda Interactive(SNDA Quote) surged 6.3% to $30.06, and Giant Interactive(GA Quote) roared higher by 5.4% to $13.34.

Origin Agritech(SEED Quote), a leading technology-focused supplier of crop seed and agri-biotech research in China, announced it has approval of three new corn hybrid varieties and one new genetically-modified cotton variety for distribution in five Chinese provinces during the 2009 sales season. Shares of Origin soared 11% to $6.81 on four times the average daily volume.

New Oriental Education & Technology Group(EDU Quote), a Chinese provider of private educational services, announced it has inked a deal with U.S.-based Coca-Cola(KO Quote) to develop an e-learning platform offering vocational training to Coca-Cola system employees in China. Under the terms of the deal, both companies will jointly develop training modules that will use New Oriental's Koolearn online platform. Shares of New Oriental added 4.7% to $65.21.

Chinese alternative energy company LDK Solar(LDK Quote), announced it has inked a five-year contract with China-based Jiangxi Solar PV to supply multicrystalline solar wafers. Under the terms of the deal, LDK will supply 70 megawatts to JSPV starting in 2009, through 2013. Shares of LDK Solar climbed 7% to $38.20.