this could explain the rise

CII has both direct and Indirect deals going on in China,as some major producers are out od business because of the earthquakes,then more focus on these deal....

Yesterdays buy probably a result of ths

"Australia Approved for Investment by Chinese Funds (Update1)

By Madelene Pearson

June 10 (Bloomberg) -- Australia will become an approved destination for investment by authorized Chinese funds, boosting links with its largest trading partner.

Australia will get approval under China's qualified domestic institutional investor program, Treasurer Wayne Swan said today in an e-mailed statement. This will allow investment in Australia by entities regulated by the China Banking Regulatory Commission.

The approved-status ``will create new opportunities for Australia's fund management industry to provide their services to Chinese investors seeking Australian investment opportunities,'' Swan said. `This initiative will also add liquidity to the Australian capital market and open the way for broader investment choices for Chinese investors.''

The approval comes as Chinese investors under the QDII program are being encouraged to tap rising commodities demand to shift away from Hong Kong, where QDII funds have put about half the money available to buy stocks abroad. Chinese banks, insurers and fund- management firms got permission to invest more than $40 billion overseas since the QDII program was approved in April 2006. The program was extended to retail funds in the fourth quarter of 2007.

China may invest more than A$30 billion ($28.5 billion) in Australia in fiscal 2008, Swan said in a separate statement today. The QDII approval will start tomorrow after the Treasurer meets with China's finance minister and the chairman of the CBRC, Swan said in the statement.

``The increased inward Chinese investment into Australia will further strengthen and deepen the already growing and important financial and economic relationship between Australia and China,'' he said.