May 9, 2011 (Chinavestor) Chinese stocks snapped a week of losses on Monday. The Shanghai Composite Index (SHA:000001) advanced 9.1 points or 0.3% while the Hang Seng Index (INDEXHANGSENG:.HSI) rose 176.9 points or 0.8%. Energy stocks led the rally in Hong Kong as price of oil bounced back from $94/barrel to the $100 range. Petrochina Co. Ltd. (HKG:0857), the largest Chinese oil producer, advanced 1.7% just below CNOOC Ltd. (HKG:0883), China's offshore oil specialist. Yanzhou Coal Mining (HKG:1171), the third largest coal miner in China, surged 3.8%, the second most among 42 components of the Hang Seng Index (INDEXHANGSAENG:.HSI).
Energy stock dominated components of key Chinese ETFs as well. Most components of the iShares FTSE/Xinhua 25 China Index (NYSE:FXI) rose in Asia on Monday, suggesting a higher open for the ETF on the NYSE today. Small caps enjoyed a broad rally as well; stocks that advanced outnumbered those that fell three to one among components of the Guggenheim Small Cap China ETF (NYSE:HSO) in Asia on Monday.
Earnings made a difference for 51job Inc. (NASDAQ:JOBS) last Friday, sending the stock 12.6% higher. Mindray Medical (NYSE:MR), a mid-sized Chinese medical equipment maker, rose 4.2% just below of Sinppec Shanghai Petrochemical (NYSE:SHI), a Chinese upstream oil company.
Index futures point to a higher open for U.S. indices and Chinese ADRs alike. If components of the Hang Seng Index (INDEXHANGSENG:.HSI) can serve as proxy for ADR trading, outlook is best for Yanzhou Coal Mining (NYSE:YZC) and CNOOC Ltd. (NYSE:CEO) ahead the opening bell.