Market was up yesterday and today on the back of renewed rumours that QDII has been approved. The blue chips did very well yesterday, and good this morning. However, the market gave back most of the gains in the lated afternoon.

I still like Sinopec (#386) which is still trying to break through $3.00 and China Telecom (#728) which looks like finally going above $2.60 after the placements at $2.30.

Hutchison (#13) is trying to spin off their telecoms business. This has to be good for the stock as it will no longer be directly weighed down by 3G. What's good for Hutchison will also be good for Cheung Kong (#1).