Investors seek signs that China’s recovery plan is working


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“The mixed data send a clear message that markets should not be too bullish about growth this year,” Nomura’s chief China Economist Ting Lu said following the release of data showing the volume of new home sales fell 18 per cent year-on-year in the first two weeks of February. While China’s financial markets rallied late last year on news the country was opening faster than expected, the optimism has run out of steam this month. Economists say while a deterioration in US-China relations following the spy balloon incident has not helped, investors are adopting a more neutral position. The optimism...