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Tide turns in China as local stockmarket investors trade speculatives for blue chips

Focus falls on companies that would benefit from a new wall of foreign cash

Buying interest also cooled after a growing number of high-flying start-ups floundered - most recently ChiNext bellwether Leshi Internet & Information Corp, whose parent company saw a court freeze some of its assets amid a cash crunch.

Hong Kong

RETIRED chauffeur Yao Huiliang used to spend his days trading small-cap Chinese stocks, trying to make quick money on sharp moves - casino-type behaviour often seen in China's stock markets.

But having lost on such bets recently, he is now switching into blue chip stocks...

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