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Chitchat Singapore's record millionaires
- Thread starter Sikodolaukazzz
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China rally loses steam as authorities disappoint markets; Hong Kong stocks plunge more than 9%
Lim Hui JieThis is CNBC’s live blog covering Asia-Pacific markets.
A customer watches stock market at a stock exchange in Hangzhou, China, on September 27, 2024.
Costfoto | Nurphoto | Getty Images
SINGAPORE — The rally in Chinese markets lost steam on Tuesday after a briefing from the country’s National Development and Reform Commission provided few details on further stimulus.
While mainland China’s CSI 300 skyrocketed over 10% at the open Tuesday in its return from the Golden Week holiday, the index pared gains to to record a gain of 5.93% and end at 4,256.1.
Hong Kong’s Hang Seng index briefly plummeted over 10%, before recovering slightly to a smaller loss of 9% as of its final hour.
Other Asia-Pacific markets mostly fell on Tuesday, with investors watching August pay and spending data out from Japan.
Household spending in Japan fell 1.9% year-on-year in August in real terms, a softer fall compared to the 2.6% decline expected by a Reuters poll of economists
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