Most large and small cap stocks fell in Asia as components of key ETFs testify. Only two out of the 25 member iShares FTSE/Xinhua 25 China Index (NYSE:FXI) advanced on Monday, pressuring large cap Chinese stocks before the open. Small caps saw a less universal decline; stock that fell outnumbered those that advanced two to one among the 162 components of the Guggenheim Small Cap China ETF (NYSE:HAO).
If the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for ADR trading, outlook is dim for large caps ahead the opening bell on Monday. CNOOC Ltd. (NYSE:CEO) and Huaneng Power Int. (NYSE:HNP) managed to stay in the black but Aluminum Corp. of China (NYSE:ACH), Yanzhou Coal (NYSE:YZC) and China Southern Airlines (NYSE:ZNH) are in trouble right at the open on the NYSE today.