Updated from 5:07 p.m. EDTIndia's Bombay Stock Exchange Index was closed Monday for a public holiday. Leading Indian information technology company Satyam ( SAY) announced it will set up a software development and support facility in Australia in an effort to reduce its dependence on the U.S. market. The new center will be located in Geelong and will house 2,000 employees. American depositary shares of SAY, which trade on the NYSE, finished down 0.8% at $22.57. Elsewhere in the Indian information technology sector, Wipro Limited ( WIT) plans to build a research and service facility in the south-western Polish city of Wroclaw, according to the newspaper Gazeta Wyborcza. Wipro plans to hire over 200 IT specialists as part of the expansion into Poland. Shares of WIT finished up 1% at $11.14. Indian global communications giant Tata Communications ( TCL) said it has inked a partnership with TE Data SAE, a subsidiary of Telecom Egypt SAE to expand its global VPN services into Egypt. Shares of Tata Communications finished down 0.7% at $22.69. Indian integrated Internet, network and electronic commerce service company Sify Technologies ( SIFY) announced it will sell a stake in the company worth $12.8 million to Satcom Universal Private, effective March 24. Sify will sell Indian equity shares for $4.46 apiece in an effort to raise $57.2 million to fund growth initiatives. Shares of SIFY finished the day down 6% at $4.58 on the news. Leading the decliners among Indian ADRs were HDFC Bank ( HDB), which also lost 2.8% to $93.58; Icici Bank ( IBN), which fell 1.9% to $38.21; and Mahanagar Telephone ( MTE), which fell 1.8% to $4.82. 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.
Leading Chinese online game developer and operator Giant Interactive ( GA) announced it has opened a new research and development facility in Chengdu, Sichuan. The company plans to use the new facility for the development of specialized 3-D graphics engines and technologies. Shares of Giant fell 2.7% to $12.51. Elsewhere in the Chinese gaming sector, The9 ( NCTY) surged higher by 6% after the company announced it expanded its license agreement with Vivendi SA's Blizzard Entertainment for the distribution of the second expansion pack for major online game "World of Warcraft" in mainland China. Shares of The9 finished up $1.15 at $19.90. Shares of Chinese plastic film manufacturer Fuwei Films ( FFHL) dropped 8.7% Monday after the company reported a drop in fourth-quarter net income. Net income came in at RMB 1.0 million, or RMB 0.08 per share, vs. RMB 21.5 million, or RMB 19.5 per share, for the same period last year. Net income for the fiscal year came in at RMB 47.3 million, or RMB 3.62 per share, vs. RMB 67.7 million, or RMB 61.4 per share, from a year ago. Shares of FFHL closed down 27 cents at $2.83. 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. For more on Asia, check out Daniel Harrison's coverage at TheStreet.com.