Battered China Stock Traders Watch Holiday Spending Signals
- Travel, retail, entertainment sectors will be closely watched
- Country’s shares are among the most beaten-down in the world
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Traders hammered by China’s stock rout are looking for fresh market signals from one of the country’s peak consumer-spending seasons.
The Lunar New Year holidays, running from Feb. 9-17 this year, will have investors scouring spending data like travel and box-office receipts for signs about the health of the world’s second-largest economy. Expectations are soft this year, with analysts saying consumers are likely to tighten their belt given the bleak economic outlook. Also, prior-year comparisons may set a high bar, as 12 months ago the economy was rebounding strongly from Covid shutdowns.