China stocks decline amid economic recovery disappointment, while other markets in Asia rise

📆 09/10/2024 07:17 ص
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Business,World News

Shares in China have slumped as details of economic stimulus plans from officials in Beijing failed to meet investors' expectations, while other markets in Asia are higher.

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People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Wednesday, Oct. 9, 2024, in Tokyo. People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Wednesday, Oct. 9, 2024, in Tokyo. “Let’s call it what it is — an abject failure — as Chinese shares opened sharply lower, sending a clear signal that the market is no longer buying half-hearted promises,” Stephen Innes of SPI Asset Management said in a commentary.

Australia’s S&P/ASX 200 gained 0.2% at 8,189.70. South Korea’s markets were closed for a public holiday.

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Stock market today: Chinese shares soar, then fade as Beijing outlines details of stimulusShares have soared in Shanghai but gave up a chunk of their initial gains as officials in Beijing outlined details of the government's stimulus plans. Hong Kong's Hang Seng sank nearly 6% as traders sold to lock in profits from recent gains. Shares elsewhere in Asia declined. On Monday, U.S.
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