China stock rally fizzles as stimulus news disappointsGetty Images Shares had jumped by more than 10% as trading restarted after the Golden Week holidayA stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors.
Shares had jumped by over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.
Investors had been hoping for more information about how the government plans to support economic growth but the announcement gave little in the way of details.
The correction will be even stronger if the data on the Golden Week in terms of consumption is weak," said Alicia Garcia-Herrero, chief economist for the Asia Pacific region at investment bank Natixis.
"The market is reacting to the lack of a real fiscal stimulus...
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