market up. fmg down.???, page-16

I am not sure what you guys are on about but;

China's Hunan lifts stake in Fortescue
May 5, 2009 - 8:09PM

China's Hunan Valin Iron and Steel Company has formally announced that it has lifted its stake in Fortescue Metals Group Ltd (FMG) to 17.33 per cent following the placement of 260 million shares in the Australian miner.

Valin first publicly declared its intention to increase its stake in FMG from 9.79 per cent in late February.

Valin said at the time that the $558 million investment would provide the Australian iron ore miner with the necessary capital to underpin its ambitious expansion plans.

China's regulators, including the National Development Reform Commission, recently approved the transaction, which was given the nod by Federal Treasurer Wayne Swan in March.

The announcement of the deal came amid a spate of proposed Chinese investment in Australian miners, including Minmetals' acquisition of debt-laden OZ Minerals Ltd, which is yet to receive final approvals.

To help lift its stake in FMG to 17.33 per cent, Valin bought shares in the miner from New York-based hedge fund Harbinger Capital, bringing its investment in FMG this year to $645 million.

Fortescue shares eased four cents, or 1.59 per cent, to $2.48.

And it you put 2 and 2 together;

http://business.theage.com.au/business/china-buoys-economy-rba-20090505-atkg.html

But, it is your call, of course.