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September data from China offered plenty of welcome surprises, with faster-than-expected growth, falling unemployment and a glimmer of momentum in consumption, but investors are not rushing to buy into the story. China's blue-chip stocks, down nearly 7% this year, compared to a gain of almost 10% for world stocks, were unmoved by the news and fell on Wednesday by another 0.8%. "Just the Q3 growth data today is not yet enough to turn market sentiment around," said Chi Lo, a senior market strategist for Asia-Pacific at BNP Paribas Asset Management in Hong Kong.
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