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Foreign investors voiced their opinion of Xi Jinping's new Politburo Standing Committee by selling their holdings of Chinese stocks. (Source photos by Getty Images and Yusuke Hinata)
Market Spotlight

China stocks reel after Xi tightens grip

New leadership offers little confidence to international investors

ECHO WONG and CISSY ZHOU, Nikkei staff writers | China

HONG KONG -- A record sell-off of China stocks has revealed investors' fears over the country's largest companies after Xi Jinping secured his third term as the country's most powerful leader.

Hopes for signs that China's down-beaten tech sector would revive and that an opening of China's borders would boost the economy were apparently dashed by the Chinese Communist Party's national congress. The twice-a-decade event culminated in Xi tightening his grip on the country's highest decision-making body, the Politburo Standing Committee, presenting a lineup notable for a lack of reform-minded top leaders.

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