Thursday's Asia ADR Recap: PetroChina

Elsewhere in the Indian technology complex, Shares of Wipro (WIT Quote) traded up 2.9% to $13.48; Satyam Computer (SAY Quote) rose 2.2% to $26.76; and Infosys Technologies (INFY Quote) finished up 2% to $46.36.

Mahanagar Telephone Nigam (MTE Quote), an Indian fixed-line and wireless telecommunications provider, announced it has inked a licensing agreement with the department of telecom, which would allow the company to control its own international long distance traffic. The license will allow the company to lower international rates as it carries its own traffic. Shares of Mahanagar Telephone traded up 3.5% to $4.62.

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 fell sharply Thursday after investors lost hope that the Chinese government will step in and introduce any market-supporting policies to save the falling market. Market expectations had been high coming into the session that the government would announced some type of bail out for investors. Traders said market sentiment is at all-time lows as investors continue to witness the market drop with no relief in sight.

"It seems nothing can rescue the market from the prevailing pessimism. Maybe it's time to take a break, have a cup of tea and just wait," said Xu Zhiyuan, an analyst at CapitalEdge Investment Management.

The Shanghai Composite Index plunged 168.67 points, or 5.7%, to 2,772.44, and Hong Kong's Hang Seng Index dove 528.19 points, or 2.3%, to 22,797.61. Here's a look at how some China-based American depositary shares traded in the U.S. on Thursday.