Wednesday's Asia ADR Recap: Infosys

Chinese oil refiner ADRs surged higher off the rumors of a possible fuel-price hike. China Petroleum & Chemical (SNP Quote) soared 5.1% to $104.35; Sinopec Shanghai Petrochemical (SHI Quote) traded up 4.8% to $40.83; and PetroChina (PTR Quote) added 1.9% to $134.53.

Chinese alternative energy company ReneSola (SOL Quote) announced the pricing of a follow-on public offering of 9 million American depositary shares, with each representing two shares of the company, at $20.50. The company said that 8.58 million shares are new shares and 422,780 shares are being sold by certain shareholders, including CEO Xianshou Li. American depositary shares of ReneSola, which trade on the NYSE, surged 3.4% to $21.49.

China Unicom (CHU Quote) squashed market rumors Wednesday that the company was contacted by Apple Computer (AAPL Quote) to distribute the new 3G iPhone in China. According to tradingmarkets.com, an unnamed company executive said, "This rumored cooperation is nonsense. The company will not approach Apple at this moment when the nation's telecom regrouping has not come to an end, let alone discuss the iPhone deal." Shares of China Unicom finished higher by 10 cents at $19.42.

Leading the gainers list among China-based stocks and Chinese ADRs Wednesday were Huaneng Power International (CPSL Quote), which surged 6.7% to $35; Asia Time (TYM Quote), which added 3.9% to $4.70; Jinpan International (JST Quote), which rose 3.6% to $37.10; and Solarfun Power Holdings (SOLF Quote), which closed higher by 2.5% at $22.18.

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.

For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.