BEIJING: Rattled by falling home prices, some of the wealthiest Chinese are paring their property investments and turning to private equity or overseas holiday homes, a sign of fading hopes that the once red-hot market can bounce back any time soon.
"Smart money" checking the exit is a bad omen for any market, especially one considered frothy after a five-year, record-breaking bull run, but wealth managers, brokers and analysts say there is no reason for alarm yet.
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