China’s Stock Rally Cools as Beijing Holds Off on More Stimulus
- Turnover reaches record as market reopens after one-week break
- Gauge of Chinese stocks listed in Hong Kong plunges almost 11%
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WATCH: The rally in Chinese stocks lost momentum after the country’s top economic planner held back on unleashing further stimulus. David Ingles reports.Source: Bloomberg
By
Charlotte Yang
October 8, 2024 at 9:32 AM GMT+8
Updated on
October 8, 2024 at 1:21 PM GMT+8
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A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.
The benchmark
CSI 300 Index was 5.1% higher after surging almost 11% in the opening minutes. Equities pared gains after officials at China’s top economic planner — the National Development and Reform Commission —
held back in unleashing any more major stimulus at a press briefing.