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Bull will run out of steam in 2012, says Bolton

Fidelity China special situations trust manager Anthony Bolton says the equity bull market could end next year.

Bolton says: “There is another leg before the bull market comes to an end and maybe that is next year.” He says investors are not yet behaving as they do at the end of a bull market, piling wholesale into equities.

The Chinese market has been flat since Fidelity launched the special situations trust last year. Bolton told investors to “expect the unexpected in Hong Kong”, pointing out a clash between its peg to US monetary policy and its links with China.

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