China raised reserve requirement

Central bank of China raised reserve requirement to cool down the overheating economy and inflation. It would put a damp on commodities.

Obama is considering put a new fee on financial institutions which could amount to 120 billion. If it is temporary, the impact will be small. However I always doubt any government levy will be temporary.

I will take profit on my CHL (China telecom). It increased 9% in 3 weeks.