China stocks party starts to fizzle as markets wait on stimulus

Quick Summary:

SHANGHAI: China's runaway stocks rally began losing steam on Tuesday and Hong Kong shares slumped as officials disappointed markets by providing few specific details on plans to bolster China's slowing economy.

"Markets were hoping to obtain some guidance on the size of fiscal stimulus," said Eastspring Investments' portfolio manager Rong Ren in Singapore, but found little new in Zheng's remarks.

Hong Kong's Hang Seng, catapulted to be the top-performing major market this year aided by blistering gains in recent sessions, slid 7.7%.

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Category: EconomyBusiness

Markets: MalaysiaAustraliaChinaHong KongIndiaSingapore

Topics: Rally Markets /Business/Business News Equities Stocks

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-08 @ 13:54:00 (5 hours ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

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Reading Time: 4 minutes read

Sentences: 28 lines

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News ID: 22948683

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