Just noticed the China stock market bouncing back pretty nicely after the Lunar New Year break. The Shanghai Composite is hovering around 4,120 and looking like it could open green again soon. After that initial dip, we're seeing some solid gains from energy and resource plays, which is making the overall picture look more optimistic.

What caught my eye is how the Shenzhen index is also climbing steadily. Some of the major banks are holding steady or dipping slightly, but the real movers are in the energy sector - PetroChina especially jumped hard. Sinopec and various power companies are showing decent strength too. The property stocks are mixed though, which is typical.

The global backdrop is helping - Wall Street closed strong on Tuesday with semiconductor stocks leading the charge, and that positive momentum seems to be flowing into Asian markets. Traders are hunting for bargains after Monday's selloff, so there's some decent buying interest. If this trend continues, we might see the China market extend its gains through the week. The energy rally is definitely the story to watch here.