China's red-hot art market cools

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Sotheby's Chinese art sales in Hong Kong weaken amid the financial turnoil, as collectors stay on the sidelines. The global financial crisis seemingly doused the Chinese art market boom, with Sotheby's saying it sold HK$1.1 billion ($141.6 million) worth of Asian art in its biannual sales in Hong Kong, around half the expected total. James Pomfret reports.

Tags: Sotheby's, Hong Kong

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