The market was under pressure all day from the opening, and finished down 78 to 12,082.

Cheung Kong (#1) was down 0.75 to 56.75. Hutchison (#13) closed 52.00 down 0.25.

Sinopec (#386) was down 0.075 to 2.775 and China Telecom (#728) closed 2.525 down 0.05. China shares were all down even though the administrative measures to cool down the economy appears to be taking effect and there may not be a need to increase interest rates.

CSCL (#2866) which started trading yesterday was down again to 2.55 from the ipo price of 3.175 due in part to Citicorps "sell" call with a target price of 2.30. Thanks Citibank!