ADRs in Focus: China dips after quake, inflation

The Bank of New York China ADR Index fell 2.38 points to 500.29 in afternoon trading. ADR stands for American Depositary Receipt, which is a security designed to allow U.S. investors to trade shares of companies based overseas.

The earthquake, centered in and around the western Sichuan province, has killed nearly 9,000, trapped about 900 students under a school's rubble and caused a toxic chemical leak, according to reports.

Meanwhile, China's National Statistics Bureau said Monday that consumer prices rose 8.5 percent in April over the year-ago period. Food costs alone jumped 22.1 percent last month.

China also ordered banks to boost the amount of money held in reserve by 0.5 percent to 16.5 percent to curb lending and control inflation. That is the fourth time this year the government has made such an order.

Shares of JA Solar Holdings Co. fell $1.07, or 4.5 percent, to $22.49. The company said Monday it plans to offer $300 million in convertible senior notes due 2013.

Shares of ChinaEdu Corp., which runs online degree programs for Chinese universities, slipped 20 cents, or 2.9 percent, to $6.74.

Shares of AirMedia Group Inc., which operates advertising networks in airports and airplanes, dropped 59 cents, or 3.3 percent, to $17.40.

Shares of Ctrip.com International Ltd. lost $2, or 3.1 percent, to $62.92.

Several stocks posted large gains during the session, including shares of Xinhua Finance Media Ltd., which owns the official news agency reporting the earthquake news. It added $1.09, or 5 percent, to $22.96.