Chinese Stocks Plunge Over 7% Amid Weak Holiday Spending. Investors Grow Weary Of Beijing's Slow Stimulus.

Benzinga 2024-10-09

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Chinese stocks saw their biggest drop in over four years, as traders grew impatient with the slow pace of Beijing’s stimulus measures. The CSI 300 Index plunged more than 7%. Weak Golden Week holiday spending data further hurt sentiment, wiping out Tuesday's gains after mainland markets reopened. The Hang Seng China Enterprises Index, tracking Hong Kong-listed Chinese stocks, also fell. While equities rallied in recent weeks due to stimulus-driven optimism, strategists are calling for Beijing to back its pledges with real fiscal action to revive the economy.

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