Wednesday's Asia ADR Recap

Updated from 5:08 p.m. EDT

Indian stocks cooled off Wednesday after Goldman Sachs issued some cautious notes on banks in the region. Profiting-taking also hit the Far East as investors looked to lock in gains following a large one-day point gain Tuesday.

"The Sensex Index is likely to move in a narrow range and digest gains after the strong rise in the past four days," said Deven Choksey, chief executive officer at K R Choksey Shares & Securities. The Bombay Stock Exchange Sensitive Index lost 130.66 points, or 0.8%, to 16,086.83.

The long-awaited sale of Ford Motor's (F Quote) luxury car brands Jaguar and Land Rover to Tata Motors (TTM Quote) closed Wednesday. Tata announced it purchased the brands for $2.3 billion and Ford will contribute around $600 million to the Jaguar-Land Rover pension fund. Ford originally purchased Jaguar for $2.5 billion and Land Rover for $2.7 billion. American depositary shares of Tata Motors, which trade on the NYSE, fell 6.8% to $16.18 on the news. ...