a bit of a pop for sony. the hong kong hang seng up just a fraction, the shanghai down 0.25%. australia down because of europe. also because of china. goldman sachs lowering its growth forecast for china from 10% to 9.4% this year as policy tightening measures start to kick in. interesting, had one research note from boc, bank of china, which said stagflation could be on the horizon. it's rising inflation and slowing growth. that one could spook the markets further. i tell you who are watching china closely, ramy inocencio, our asia business analyst. you have a slightly more longer look at the declines in asia pacific. >> those numbers you were talking about is showing investors are being cautious especially after the past two months of clear declines of asia pacific. let me show you the trend in a few major markets. first to hong kong, march 11th, right here is a reference