Monday's Asia ADR Recap: VisionChina

Indian information technology services and consulting leader Satyam Computer(SAY Quote) announced it has won Tier 1 engineering and supplier status from European Aeronautic Defense and Space, the parent company of Airbus. Satyam was awarded the honor after a difficult selection process that included over 2,000 other suppliers. Shares of Satyam lost 1.2% to $26.95.

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 broke a nine-session downtrend and shares in Hong Kong rebounded from a four-day selling spree on Monday, as investors snapped up shares of oversold heavyweights following large percentage declines in both stocks markets last week.

"There is some bargain-hunting, but I think it's just temporary because the market was oversold last week. The buying interest may not be sustained," said Linus Yip, a strategist at First Shanghai Securities.

The Shanghai Composite Index closed up 5.30 points, or 0.2%, to 2,874.10, and Hong Kong's Hang Seng Index rose 437.39 points, or 1.9%, to 23,029.69. Here's a look at how some China-based American depositary shares traded in the U.S. on Monday.

Sohu.com(SOHU Quote), a Chinese Internet media company, announced it has inked a deal with CCTV.com, China's official Internet and mobile broadcaster for the Beijing 2008 Olympics games, for the new media rights to webcast the August Olympic games. The company will offer users live webcast and video-on-demand of the competitions along with the opening and closing ceremonies of the Beijing 2008 Olympic Games. American depositary shares of Sohu.com, which trade on the Nasdaq, closed up 3.8% to $82.48.