Investors are trying not to build up big positions this week.

It's very sad. It's very sad, ... At the very beginning I think this is a story about a man (trying to) carry on his life after he broke up with the woman he loves. And he tries to change. He tries to forget the past. He tries to live like a new man. He thinks he's changed entirely, he sees things, he acts differently, but deep down inside him I think he still lingers with the past and that's sad.

China Telecom is suffering selling pressure this morning, but otherwise selling is not too strong.

China Telecom is weaker because attention is on Unicom. Overall the market is still consolidating because there is still no clear direction.

People feel that the market at 16,000 is a bit too high so there's not much strong buying interest.

There's still profit taking pressure but I expect the index to trade around the 17,500 level today.