Chinese Stocks Decline as Congress Sets Modest Growth Target
- Cautious growth goal suggests massive stimulus off the table
- Benchmark CSI 300 Index falls as much as 1% early on Monday
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Chinese stocks underperformed in Asia amid concerns that authorities will withhold stimulus after unveiling a conservative economic growth target at the National People’s Congress.
The onshore benchmark CSI 300 Index slipped as much as 1% early on Monday, erasing more than half of its gain from last week. The Hang Seng China Enterprises Index, a gauge of Chinese stocks traded in Hong Kong, lost as much as 1.2% before paring the bulk of its losses.