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Closing at 4,218. This as investors fear further crackdown from regulators who are tighten irthing grip on beijings soaring markets. It was very toll avial and the emphasis of course was on the Greater China markets. Yes, we saw that action by the authorities in beijing over the weekend with a rrr and they cut it more aggressively than most in the market did expect. 100 basis points and the aim here is to encourage credit growth, to encourage bampings to to get liquidity going. Initially we did see a positive reaction. We saw china stocks up by 1 . They did reverse course and as you pointed out, down by 1. 6 at the close. Lets net forget as well that the authorities in beijing, the securities regulators are trying to take the steam out of the market rally. They clamped down on margin financing. Lets not forget this very staggering statistic, we have now surpassed the 1 trillion yuan mark. It could be a brutal one if it is corrected. That is probably the overriding factor here. That is

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