China's most influential man.

He has the reputation of being a modest, even-tempered and practical person capable of getting things done through consensus. Along with President Hu Jintao, he is part of a leadership composed largely of technocrats rather than revolutionary military veterans. He has guided China's tectonic economy, supporting continued economic reform and growth but also pointedly calling for greater emphasis on social equality for those who have been left out of the country's "economic miracle." Indeed, his expressions of concern for the plight of ordinary peasants and laborers, whose disaffection has manifested itself in an alarming increase in social unrest, have given him the image of being something of a populist. He has faced other political challenges: the AIDS crisis, SARS, China's worsening environmental problems. He has also taken a relatively hard line on Beijing's claim to Taiwan, saying, "We don't hope for foreign intervention, but we are not afraid of it." Yet he has also taken pains to emphasize that in foreign policy, "the path embarked on by China is one of peaceful development," which he described recently as "the natural choice for China."
He is none other than Mr.Wen Jiabao---China's Premier.

Wen warns China will do what it takes to rein in stock market
China's Premier Wen Jiabao has warned his government will do what it takes to prevent bubbles and fluctuations in the stock market.
"The government will take measures to prevent asset bubbles and avoid huge fluctuations in the stock market," Premier Wen Jiabao told reporters, according to the China Daily website.
"Preventing asset bubbles is like preventing inflation and it is the government's responsibility to ensure a fair, healthy and transparent stock market," Wen said.
Wen's statement could signal a more active approach to reining in the stock market after last month's 17th Communist Party Congress, China's most important political event for the past five years, analysts said.
They argued that prior to and during the week-long congress, politicians had been reluctant to tamper with the stock market for fears of a plunge in share valuations could have triggered unrest.
"(Wen's statement) is in line with our expectation that regulators would feel less constrained to take actions to curb (stock market) bubbles after the Party Congress," Deutsche Bank chief economist Jun Ma said in a research note.
Wen made the remarks over the weekend while in Uzbekistan attending a regional meeting, the paper said.
The premier said all measures will be market-oriented options rather than administrative actions.
Wen said the stability of a stock market relies on two basic factors, including the quality of listed firms and a transparent market which protect not only the interests of enterprises, but also those of consumers.
"With more people having entered the stock market, abnormal fluctuations affect both the national economy and the interests of shareholders, so the government will closely watch developments," he said, according to the paper.
China's stock market has more than doubled so far this year, after surging about 130 percent in 2006. Shares fell 1.42 percent in Monday morning trade.
http://en.wikipedia.org/wiki/Wen_Jiabao

Tracking the Dow Movement on Monday 5/10/07


Citigroup financial mortgage meltdown having to write-off USD11billion in bad loans have an added dampener to the opening bell.Dow retracement time 10:30am & 11:30am forming a double-top before it crash down to a deficit of nearly 150 points,that's tremendous.The last one hour prior to closing rebounded but closes with a bearish spike down.A black candlestick and a four-legged doji at its closing seems to be a further dangerous signal.

The two dragon-fly doji can be interpreted as hangman or hammer.I don't quite like the long shadow (tail) below the body.This shows that there's still room to move within it.Caution is the name of the game.The market will be awaiting what Benarnke has to say at the Joint Economic Meeting on Thursday to catch any hints or directions.