Trading was light with investors reluctant to take positions before other global markets open, two dealers said. "We're seeing that (relief) fall away with a little bit of uncertainty coming to the surface again over the weekend," said Jamie Spiteri, a senior dealer at Shaw Stockbroking. "Interest drops away fairly quickly given the environment we've been in for the last few months." Rival exchange platform, Chi-X, launched on Monday, ending the Australian Securities Exchange's two-decade monopoly, but a dealer said interest there was light, too. "It's had a small, steady start," said a dealer at a major investment bank who declined to be named as he is not authorised to speak to the media. Chi-X opened with eight securities listed for the first week, including BHP Billiton , Woolworths , Origin Energy , CSL , QBE and Leighton Holdings . Australia's two airlines, Qantas Airways and Virgin Blue , both soared more than 6 percent after Qantas took the extraordinary step of grounding all its planes for two days to force three unions to resolve long-running disputes. The nation's labour tribunal early Monday ordered an end to all industrial action by Qantas and unions for its pilots, engineers, baggage handlers and caterers, requiring them to reach a deal within three weeks or be forced into arbitration. "The market is hopeful that if pressure is applied they'll reach a resolution over the next three weeks," Spiteri said. Virgin jumped as much as 7.7 percent to an eight-month high of A$0.39 as it is expected to snare disgruntled travellers away from Qantas. The S&P/ASX 200 index was down 5 points at 4,348.3 at 0119 GMT. New Zealand's benchmark NZX 50 index rose 0.4 percent to 3,338.3. STOCKS ON THE MOVE Transpacific Industries surged 24 percent to a seven-week high of $0.765, coming off a trading halt after it secured a A$1.525 billion loan and sold A$309 million worth of new shares to refinance its debt. The rights offer was priced at A$0.50 a share. Retailers JB Hi-Fi and David Jones were the biggest losers, down 4.5 percent and 3.4 percent respectively, ahead of Tuesday's rate decision, seen key to boosting consumer sentiment.