Friday's Asia ADR Recap

Elsewhere in the Chinese alternative energy complex, shares of Trina Solar(TSL Quote) dove 8.7% to $30.71; Solarfun Power(SOLF Quote) dropped 6% to $18.04; Suntech Power( STP Quote) fell 5% to $36.53; Suntech Power(STP Quote) lost 7% to $38.45; and LDK Solar(LDK Quote) moved down 3.6% to $39.82.

According to Sina.com, Chinese advertising company Focus Media(FMCN Quote) is denying market rumors that the company plans to close down its subsidiary Focus Wireless, after the division was hit with controversy over its SMS and MMS business for spamming consumers with text messages. The company said some employees have left the firm as it reorganizes and gets out of the SMS business. Shares of Focus Media finished essentially flat at $27.05.

Piper Jaffray upgraded Chinese online gaming operator The9 Limited(NCTY Quote) from neutral to buy and upped its price target from $26 to $31. The firm cited an improving outlook for Worlds of Warcraft and raised its 2008 EPS estimates from $1.65 to $1.80, and bumped up its 2009 EPS estimates for $1.98 to $2.10. Shares of The9 finished higher by 1% to $22.50.

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.