The market was up 111 today to close at 12,161 mainly because of easing fears of sharp interest rate increases in the US (based on Alan Greenspan's testimony). Also, China has come out and said that it would use administrative procedures to cool the economy rather than increase interest rates.

Cheung Kong (#1) opened higher at 58.75 but retreated to close at 57.50. Hutchison (#13) did better to close up 0.75 to close at 52.25.

Sinopec (#386) and China Telecom (#728) closed unchanged.