Tuesday's Asia ADR Recap

"People are too cautious and there's not a lot of positive news coming out," said Kenny Tang, associate director at Tung Tai Securities.

The Shanghai Composite Index traded up 42.60 points, or 1.5%, to 2,803.02, and Hong Kong's Hang Seng Index moved down 258.94 points, or 1.1%, to 22,456.02. Here's a look at how some China-based American depositary shares traded in the U.S. on Tuesday.

Chinese producer of crude oil and natural gas PetroChina(PTR Quote) announced it has inked a letter of intent with Royal Dutch Shell(RDS.B Quote) and Qatar Petroleum International to assess the feasibility of launching a new refinery and petrochemical complex in China. Under the terms of the agreement, PetroChina will control a 51% stake in any possible venture, while Shell and Qatar Petroleum will control 24.5%. American depositary shares of PetroChina, which trade on the NYSE, fell 1.5% to $131.77.

eFuture Information Technology(EFUT Quote), a Chinese provider of front-end supply chain management software and services, announced its total revenue for the first-quarter of 2008 soared 92.8% and service revenues for the first-quarter surged 241.6%, the strongest growth of any quarter in ten years The company said its total revenues for the first-quarter were RMB14 million ($2 million), vs. RMB7.3 million for the same period a year ago and service fee income for the first-quarter was RMB5.0 million ($0.7 million). Looking forward, the company said its full-year 2008 revenue guidance will come in between the range of $19 million to $20 million, which represents growth of 65% to 74% from 2007. Shares of eFuture fell 11.5% to $12.73 on above average volume.