We noted in a previous report that the steeper the ascent, the deeper the correction. The Shanghai composite index has hit CGI’s target of 4,900 and is vulnerable to around 4,400 or even 4,100 should selling volume sustain itself after yesterday’s decline on record volume. Those with a short-term trading orientation may consider trimming positions or taking profits. However, we believe that the ‘A’ shares can still push higher after a period of consolidation. We reiterate that we believe the greater risk for long-term investors is one of not participating and missing out on China’s continued bull run.