Tuesday's Asia ADR Recap: Cogo Group

According to the Business Standard, Maruti Suzuki India, the Indian division of Suzuki Motor, is possibly planning to launch a car that will cost less than Tata Motors'(TTM Quote) ultra-cheap Nano. The newspaper cited a source in the consumer financial industry that said Maruti Suzuki is going to offer a stripped-down version of the Maruti 800 model that will cost 12,000 rupees ($2,789). Shares of Tata Motor rose 1.8% to $12.25.

Wirpo Technologies(WIT Quote), an Indian information technology service company, announced that it's buying out its joint venture with U.S.-based mobile phone giant Motorola(MOT Quote) for an undisclosed amount. The companies formed a joint venture firm, WMNetServ, in 2006 to provide outsourced networked services to wireless companies, equipment vendors and government customers. Shares of Wipro finished essentially flat at $13.41.

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 China traded mixed on Tuesday, with shares in mainland China plummeting to a 15-month closing low and shares in Hong Kong barely advancing as Far East investors remain concerned over rising inflation and corporate earnings. Traders said market sentiment remains weak, and trading volumes are light as retail investors avoid stocks.

The desperate environment prompted the Securities Times to call on the Chinese government to set up a special fund to intervene in the markets to control volatility. There has been increased speculation that the government will do something to save investors as the Olympic Games near.

"Market sentiment is so low that investors are selling in a panic," said Zhang Linchang, a strategist at Guotai Jun'an Securities in Shanghai. "There are no good data releases, no good signals, and no market boosting moves by the government. The market lacks confidence and we don't know where the bottom is."