Stocks Lose Steam as Beijing Fails to Offer Stimulus

Flora Hua
By Flora Hua
October 8, 2024China in Focus
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China’s stocks recently caught the world’s attention with their best performance in years but the upswing wasn’t here to stay. Despite a short-term trend of large growth on Tuesday, many major stock indexes saw slides, soon after Chinese authorities failed to introduce a new round of stimulus measures like investors had hoped. Hong Kong’s benchmark Hang Seng Index endured the most dramatic fall, closing with its heaviest one-day drop since 2008, over 9 percent.