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Shanghai Down 6.6% as China Stocks Plunge Continues

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Investors had hoped China's state economic planning body, would roll out more detailed stimulus measures on Tuesday.

Chinese stocks fell sharply on Wednesday, with Shanghai's benchmark dropping 6.6% and Hong Kong's index sliding 1.5%.European stocks opened flat, with France's CAC 40 rising 0.2% to 7,538.08, Germany's DAX remaining little changed at 19,070.69, and Britain's FTSE 100 climbing 0.5% to 8,227.54.Futures for the S&P 500 were 0.3% lower, while the Dow Jones Industrial Average fell 0.2%.

Analysts noted that a news conference on Tuesday by China's National Development and Reform Commission was unlikely to provide substantial information regarding government spending, which falls under the Finance Ministry's jurisdiction.That ministry is scheduled to hold a briefing on Saturday, potentially offering more details on planned government spending that has so far not met investor expectations.

 

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