Chinese Stocks in Hong Kong Fall as Fiscal Plan Fails to Impress
- Some investors were hoping for consumption boost from Beijing
- Onshore Chinese stocks claw back earlier losses, end higher
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Chinese stocks in Hong Kong declined after a high-profile legislative meeting let down some investors who had been hoping for large-scale stimulus to revive domestic demand and combat deflation.
The Hang Seng China Enterprises Index lost as much as 2.9% before paring some of its losses, with property and consumer-related shares among the biggest losers. The CSI 300 Index was volatile, reversing an earlier loss of 1.4% to end the day 0.7% higher. A Bloomberg Intelligence gauge of Chinese developer shares briefly tumbled more than 6%.