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Updated from 5:39 p.m. EDT

Investors in India continue to experience extremes in volatility after the Sensitive Index rebounded Tuesday from earlier losses to snap a four-day losing streak. The Sensex mounted a comeback after falling as much as 185 points in the morning to close up almost 200 points.

"To a large extent, negatives factors like inflation and slowdown in corporate growth have been discounted. There are expectations of higher industrial output numbers also. So the combination of these factors proved to be a silver lining," said Hitesh Sheth, head of technical research at Prabhudas Lilladher. The Bombay Stock Exchange's Sensex Index finished higher by 199.43 points, or 1.3%, at 16,123.15.

The buying in the Far East found a home on the American exchanges with some of the largest gains seen in the Indian closed-end management and exchange-traded funds, which had all experienced heavy selling pressure the previous day. Today, the

Wisdomtree Trust

(EPI) - Get WisdomTree India Earnings Fund Report

traded up 9.9% to $24.38;

The India Fund

(IFN) - Get The India Fund Inc. Report

finished up 16.4% to $46.19; and

Morgan Stanley India Investment Fund

(IIF) - Get Morgan Stanley India Investment Fund Inc. Report

advanced 13.6% to $39.15.

Indian global information technology firm


TheStreet Recommends

(WIT) - Get Wipro Ltd. Report

finished 5.8% higher at $10.88. Credit Suisse reinitiated coverage of the stock with a neutral rating. Analyst B Sing said in research note to clients, "the company might face some challenges going forward on account of a weak macro environment. Wipro expects its sequential revenue growth to remain weak over the forthcoming one-to-two quarters. Over the last three weeks, the company has witnessed a rise in the frequency of project cancellations and delays." Wipro also announced plans to add to its staff in China by creating 1,800 new positions in the next three years, according to


Indian automaker

Tata Motors

(TTM) - Get Tata Motors Ltd. Report

said it plans to raise as much as 40 billion rupees ($1 billion) through the issuance of long-term securities in order. The offering will be used to help finance its planned purchase of luxury car brands Jaguar and Land Rover and to build the Nano car, according to


. ADR shares of Tata Motors climbed 4% higher to $16.62.

Some leading Indian ADRs Tuesday were

Tata Communications

( TCL), trading up 12% to $24.80;


(HDB) - Get HDFC Bank Ltd. Report

, ripping 12.6% to $105.10; and

Sterlite Industries India

(SLT) - Get Pacer Salt High truBeta US Market ETF Report

, finishing up 6.6% at $19.72.

Be sure to check out the

Far East Portfolio

at every night to find out which stocks in India and China are making big moves and announcing major news.

China Recap

Despite the release of troubling inflation data, asian-market value hunters came out of the woodwork Tuesday to bid up shares they deemed oversold. China's consumer price inflation rose in February to an 11-year high at 8.7%, vs. 7.1% for January, according to the Chinese Statistics Bureau.

"There's growing concern that China's inflation is getting out of control," said Li Huiyong, an analyst at Shenyin & Wanguo Securities in Shanghai. The benchmark Shanghai Composite Index advanced 19.5 points, or 0.5%, to 4,165.88, and the Hong Kong's Hang Seng index closed up 290.30 points, or 1.3%, at 22,995.35.

Chinese Internet search company

(BIDU) - Get Baidu Inc. Report

will launch an instant-messaging service as well as online trading Web sites within the year, according to an interview in the

Shanghai Daily

with president Li Yanhong. Yanhong also said that Baidu is developing a voice search product that will allow Baidu customers to receive search results through calls to the firm's customer service center. ADR shares of Baidu traded up 7.9% to close at $260.39 on the



Chinese business-to-business company

Global Sources


posted adjusted fourth-quarter earnings of $12.5 million, or 26 cents a share, up from $9.3 million, or 20 cents a share, in the prior-year quarter. The company forecasted first-quarter revenue to come in between $39.5 million and $40.0 million, vs. Wall Street estimates of $39.7 million.

Citigroup upgraded Global Sources from hold to buy with a price target of $17. A Citigroup analyst said "Although we believe that the company faces risks from a slowing U.S. and global economy, given its target customer base is export-oriented SMEs in China, as well as potential pricing pressure from its re-packaging of online products, we believe the risk-reward looks favorable as shares appear oversold and the 1H08

first-half 2008 outlook appears solid." ADR shares of Global Sources closed up 34.2% at $14.36.

Chinese medical-device maker

Mindray Medical International

(MR) - Get Montage Resources Corp. Report

announced it has agreed to buy


patient monitoring businesses for $202 million in cash. The move will help Mindray gain a stronger market position in the U.S. ADR shares of Mindray traded down 6.3% to $27.37.

Some big gainers among the Chinese ADRs Tuesday were

New Oriental Education & Technology

(EDU) - Get New Oriental Education & Technology Group Inc. Report

, advancing 13.5% to $63.58;

Yanzhou Coal Mining


, climbing 10.2% to $78.13;

Yingli Green Energy


, ripping 11.4% higher to $14.69; and

iShares FTSE/Xinhua China 25

(FXI) - Get iShares China Large-Cap ETF Report

, rising 9.7% to $146.45.

Be sure to check out the

Far East Portfolio

at 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



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