Chinese stocks jump as markets reopen after Golden Week break

Hong Kong’s Hang Seng Index, which was open for much of Golden Week, was trading lower more 4% lower on Tuesday morning.

Investors are focussed on announcements expected today from China’s National Development and Reform Commission.

Some analysts have voiced optimism about the stimulus measures, which they have called the most aggressive in China since the pandemic, while others have taken a more cautious approach.

“We will be watching to see if measures are more concentrated on supporting consumption, which could mark a focus on longer-term growth, or in investment, which could show a greater priority on shoring up immediate growth,” said a note from researchers at Dutch bank ING.

Officials are trying to boost confidence in the world’s second largest economy as concerns increase that it may miss its own 5% annual growth target.