Oct 11, 2024 – 2.40pm

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On Thursday, a Singapore-based investor sighed at his trading screen. Chinese shares had fallen 4 per cent after authorities failed to add to the stimulus package that had triggered a roaring rally since last month.

“At best I can trade this equity rally until year-end then get the hell out,” the investor said. “At worst, it’ll be over by Monday. China is only investible if we get actual structural reform. Which I doubt happens.”

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