China’s small investors sour on equities, turning to safer assets amidst a stuttering recovery. Hopes for a post-pandemic rally fade as billions of yuan in excess savings fail to enter the stock market. Instead, households flock to bonds and deposits, leaving equity markets adrift. Chinese blue chips and Hang Seng index struggle, while sovereign bond yields decline. Disappointed investors like Eric Yu in Shanghai express frustration as the anticipated momentum fizzles, keeping their money out of the market.
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