Fundametals and Market Wraps:
US:
US sharemarket rose by solid earnings results and M&A news.Dow rose by 93 pts,closing up at 13943.As

mentioned before,14000 ,the round number is a powerful resistance.
Today we turn to the oil market to see the what happened.Oil price eased a bit after the assurace on more

supplies of OPEC.OPEC president Mohammed Al-Hamli said that OPEC stands ready to pump more oil if

needed.We believe after such a long time of rise,the oil price will encouter resistace at the present price level

because of this speech.

Australia:
Big increase in petrol and fruit & veg prices will have a large impact on CPI. We expect to see a 1.2% rise in

the headline CPI. We expect a rise of 0.8% in the RBA’s preferred underlying inflation measures. In our

view, a rise of 0.8% or more would suggest that the period of unusually low underlying inflation in late 2006 /

early 2007 was coming to an end.And that turnaround would probably be enough to get an August rate rise

over the line. The main upside risk comes from the statistical tendency for above-average headline CPI

readings to go hand-in-hand with above average underlying CPI outcomes.

Tomorrow we will focuse on the recent monetary policy in China,and the future trend of the A-share market.