Chinese Markets Rally After Golden Week, But Gains Fade After Government Briefing

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BizTech

Chinese Markets Rally After Golden Week, But Gains Fade After Government Briefing

Chinese markets surged on Tuesday following the Golden Week holiday, with the CSI 300 opening 10% higher and the Shanghai Composite rallying over 6%. However, the gains cooled after a government briefing from the National Development and Reform Commission. The Shenzhen Component extended its recent rally, jumping 9%, while Hong Kong's Hang Seng briefly plummeted 10% before recovering some of its losses. Meanwhile, other Asia-Pacific markets showed declines as investors awaited economic data from Japan.

October 8, 2024