Chinese Stocks Slump as Economic Concerns Spoil Investor Mood

-- Chinese stocks dropped after traders returned from a long weekend as a slew of negative developments weighed on sentiment.Investment Bank Moelis Probes Incident After Video of Employee Appearing to Punch WomanThe CSI 300 Index of mainland shares slipped as much as 1.4% after markets reopened from the Dragon Boat Festival holiday. A gauge of Hong Kong-listed Chinese shares was among the biggest decliners in Asia, falling as much as 2%.

While domestic tourism spending rose 8.1% year-on-year during the extended weekend, the trend showed weakening momentum compared to other recent short holidays, according to Citigroup Inc. Average spending per traveler remained muted, analysts Brian Gong and Alicia Yap wrote in a note, weighing on travel-related stocks including Changbai Mountain Tourism Co.

Traders are expecting more forceful measures to support the market after recent efforts fell short of expectations. They will also be focused on the upcoming third plenum, a closed-door conclave in July, for signals of potential policy pivots and future moves to steady the slowing economy.Is There Room for Common Ground on Congestion Pricing?HONG KONG — Asian stocks were mixed on Tuesday in a busy week with several top-tier reports on U.S.

Another major Tesla investor is publicly opposing Elon Musk's $56 billion pay package days before investors vote on the enormous figure.Many investors watch Warren Buffett's trades, hoping to duplicate the success of the so-called "Oracle of Omaha." Recently, Buffett watchers saw the famed investor jettison some housing stocks from...Nvidia was falling on Monday after its stock split, although two Wall Street analysts believe the chip maker’s valuation will keep climbing.

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