Chinese ADRS Fall After Quake

The 7.9 magnitude mid-afternoon earthquake in the Sichuan Province has also trapped about 900 students under a high-school with about 50 dead, according to state media.

Meanwhile, two chemical plants fell in Shifang city, burying hundreds of people and spilling 80 tons of toxic liquid ammonia.

The Bank of New York China ADR Index was down 1.21 points, or 0.24 percent to close at 501.46.

ADRs of China Life Insurance Co Ltd, the largest Chinese insurer, fell 67 cents, or 1.063 percent to $62.370. PetroChina, the biggest oil company in China fell 0.43 cents, or 0.06 percent to $140.450.

China Mobile dropped, 0.7 percent to $83.34. China Eastern Airlines were also down 0.7 percent to $43.24

Shares may also be under pressure from a new government order to boost the amount of funds held in reserve to 16.5 percent in an attempt to limit inflation.

The order is the fourth time the government has taken the same action this year.