HONG KONG -- Investors began to show signs of cooler heads regarding China's red-hot stocks on Tuesday, as mainland markets reopened after a seven-day holiday and a government announcement of policy support proved less ambitious than expected.
An investing frenzy fueled by earlier stimulus measures continued in the morning, as the Shanghai and Shenzhen exchanges opened just ahead of a State Council briefing on policies to "promote economic growth." The CSI 300, which measures major market cap stocks on the two bourses, started off more than 9% higher, while the technology-focused ChiNext was up more than 18% and the STAR 50 opened nearly 20% higher.
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