Wednesday's Asia ADR Recap: Infosys

U.S.-based global Internet company Yahoo! (YHOO Quote) announced it has inked several new mobile deals in an effort to raise its presence in the Asia Pacific area. For India, the company said it will launch its Yahoo! oneSearch partnership, a service that allows users to get search results on mobile phones, with mobile operator Mahanagar Telephone Nigam (MTE Quote). The company said oneSearch will be the default search engine on Mahanagar's mobile network. Shares of Mahanagar Telephone finished up 3 cents at $4.46.

According to El Financiero, Indian automaker Tata Motors (TTM Quote) plans to build a $150 million factory in Mexico through a joint venture with Mexico's Group Autofin. The plant will be used to assemble and produce 50,000 cars a year for export to South America. Shares of Tata Motors fell 2% to $12.

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 and Hong Kong jumped higher Wednesday, led by heavyweight oil refiners, on speculation that the government is close to hiking domestic fuel prices. Bargain-hunting also drove shares higher as market players snapped up shares of beaten-down Chinese stocks that many feel are reasonably priced.

"When you've got China trading at a lower earnings ratio than the S&P, you are going to attract investors," said Ben Collett, head of hedge-fund trading at Daiwa Securities SMBC

The Shanghai Composite Index closed higher by 146.36 points, or 5.2%, to 2,941.12, and Hong Kong's Hang Seng Index jumped 267.81 points, or 1.16%, to 23,325.80. Here's a look at how some China-based American depositary shares traded in the U.S. on Wednesday.