The CSI 300 is currently down 229.50 (-5.39%) on the day. 4,026.59 last I saw.
From Bloomberg via Yahoo Finance, October 8/9:
Chinese stocks listed onshore headed for their first decline in 11 days as traders grow impatient with the pace of Beijing’s stimulus measures, with sentiment also hurt by weak holiday-spending data.
The benchmark CSI 300 Index slid as much as 7.4%, wiping out its gain of 5.9% amid frenzied trading on Tuesday when mainland markets reopened after the Golden Week holiday. An index of Chinese stocks listed in Hong Kong fell further after tumbling 10% on Tuesday.
Enthusiasm over a stimulus-driven equity surge is cooling after the lack of any further major initiatives at a key policy meeting Tuesday disappointed investors. A growing number of strategists and fund mangers have expressed skepticism, saying Beijing needs to back up its spending pledges with real money, while some others have cautioned the rally has gone too far too fast as benchmark indexes surged over 30% in a matter of days.
“The market is tussling between expectation for more stimulus and economic realities,” said Yi Wang, head of quantitative investment at CSOP Asset Management Ltd. “Investors want to see a quick translation from stimulus measures into improving corporate earnings, better macro data — whether that’s with inflation, employment or local government debt. But there is a time gap between that expectation and the economic reality.”
Investors are starting to worry the rapid rebound in Chinese stocks since late September may prove to be yet another false dawn unless Beijing announces a strong fiscal package that can revive consumption and support the property sector....
....MUCH MORE
As noted September 30:
....Plus, with the long holiday coming up things will be quieter, unless we do a pivot to Chinese travelers and the places they are going. As a side note, for whatever reason, big moves in the Chinese markets in the run-up to major holidays don't tend to follow-through after holiday contemplation and reflection on what's what.
