The Big 30

HK breached the 30,000 level in intra-day trading on the back of reports that the CSRC is studying mechanisms to arbitrage the prices of stocks listed in bothe HK and Shanghai. Shanghai fell 3.5% on fears that the arbitrage will hit Shanghai prices as investors gravitate towards the HK market. The HSI touched 30,025 but closed lower at 29,465 when the CSRC said it was misquoted.