Tuesday's Asia ADR Recap: Cogo Group

The Shanghai Composite Index lost 79.35 points, or 2.8%, to 2,794.75, and Hong Kong's Hang Seng Index added 28.30 points, or 0.12%, to 23,057.99. Here's a look at how some China-based American depositary shares traded in the U.S. on Tuesday.

Perfect World(PWRD Quote), a Chinese online game developer and operator, announced it has entered into a new licensing agreement with Malaysia-based online game operator Cubinet Interactive to license "Chi Bi" in Vietnam, Thailand, Malaysia and Singapore. As part of the licensing agreement, the companies will work together on the localization of the 3D game through launching it in different languages, such as Chinese, English, Vietnamese and Thai. American depositary shares of Perfect World, which trade on the Nasdaq, climbed 1.8% to $26.14.

Shares of China's Canadian Solar(CSIQ Quote), an alternative energy company that is incorporated in Canada and has all its manufacturing facilities in China, soared 10% after the firm raised its 2008 revenue forecast due to strong demand for the company's e-Module products. The company upped its 2008 revenue guidance to $750 million to $870 million, vs. previous estimates of $650 million to $750 million. Shares of Canadian Solar jumped $4.54 to $47 on heavy volume.

China-based provider of customized module and subsystem design solutions Cogo Group(COGO Quote) issued revenue guidance for the second quarter and reaffirmed its full-year 2008 revenue forecast, saying that handset demand has dropped off due to the May earthquake, but the company expects business from other sectors to pick up during the Olympics. The company said second-quarter revenues will be in the range of $67 million to $69 million, vs. Wall Street estimates of $67.3 million, and full-year 2008 revenues will be $290 million, vs. estimates of $289.2 million. Shares of Cogo Group dipped 3.9% to $10.71.