Darkening Gloom Plagues China Stocks as Politburo Hopes Dim
- Vows of policy support have failed to lift markets this week
- Global money managers expect modest stimulus from Politburo
WATCH: Don’t Expect a Full Package of Stimulus in China: Pimco
Source: Bloomberg
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Global fund managers are tamping down expectations ahead of China’s Politburo meeting, with many bracing for prolonged gloom in the stock market on bets that any policy support will lack potency.
Chinese stocks notched their worst week in four despite a series of vows to boost consumption and businesses, underscoring deep market skepticism. While the high-level economic policy meeting slated for next week should unveil further measures to revive spending and the ailing property sector, investors see no easy fix to the lack of confidence plaguing the market.