China stocks lose steam as stimulus skepticism emerges

Mainland indexes open lower, following Hong Kong's plunge the previous day

20241009 china markets

Shanghai's Lujiazui financial district. The Chinese stock markets have had a wild ride triggered by government stimulus moves. © Reuters

ECHO WONG, Nikkei staff writer

HONG KONG -- China's mainland stock markets opened lower on Wednesday morning after Hong Kong saw a historic single-day drop the previous day, as investors digested Chinese authorities' latest moves to support the economy and doubts simmered over the prospects for more.

Major mainland indexes reversed their recent trend of opening higher. The benchmark CSI 300, which measures large-market-cap stocks listed in Shenzhen and Shanghai, opened down 4% in Wednesday's morning session, while the tech-focused STAR 50 dropped more than 9% and the ChiNext fell over 7%.

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