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

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 higherA person walks in front of an electronic stock board showing Japan's Nikkei index at a securities firm, Wednesday, Oct. 9, 2024, in Tokyo. Stocks in Hong Kong fluctuated between gains and losses, with the Hang Seng Index falling by 2.4% to 20,418.61.

“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.
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