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China bull market masks momentum breakdown

Many gauges of investor enthusiasm are tumbling; A shares no longer a one-way bet

The value of shares traded on the Shanghai exchange has dropped to 420.7 billion yuan from a record 792.7 billion yuan on Dec 9.

Hong Kong

JUST below the surface of China's world-beating equity rally, signs of trouble are emerging.

While the Shanghai Composite Index touched a five-year high on Friday after a 63 per cent gain during the past year, other gauges of investor enthusiasm are tumbling. Turnover