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Chinese Stocks Drop Amid Stimulus Skepticism, Weak Holiday Data
Chinese stocks listed onshore fell at the open, erasing some of Tuesday’s gains, amid skepticism about Beijing’s stimulus plans and signs of weakness in holiday-spending data. The CSI 300 Index dropped as much as 5.1% before paring losses. A gauge of Chinese firms listed in the US had slid 6.9% Tuesday with travel and consumption related shares leading declines. The Hang Seng China Enterprises Index of Hong Kong-listed shares rose 1.3% as dip buyers emerged after the gauge tumbled 10% Tuesday. “The market is tussling between expectation for more stimulus and economic realities,” said Yi Wang, head of ... (full story)