Briefing: China’s Stimulus Rally Stumbles

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Chinese equities got walloped Wednesday as the pullback from the China stimulus rally continued. Photo: VCG

A rundown of the news making headlines in and around China:

Stocks retreat: Chinese equities got walloped (link in Chinese) Wednesday as the pullback from the China stimulus rally continued. On the Chinese mainland, the benchmark Shanghai Composite Index shed more than 6%. The drop followed a sell-off in U.S.-listed Chinese companies Tuesday, in which the Nasdaq Golden Dragon China Index suffered its biggest drop since October 2022. Hong Kong’s Hang Seng Index extended its losses Wednesday after a 9% plunge in the previous session. That drop signaled the beginning of a retreat from the rally sparked by China’s announcement of a major stimulus package on Sept. 24.

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