China shares popped, fizzled and climbed again in first trading day after a weeklong break [Yahoo! Finance]
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Source: Yahoo! Finance
The CSI 300, which tracks the Shanghai and Shenzhen stock exchanges, was up 10.8% when markets opened. The Shanghai Stock Exchange Composite index jumped 10.2% and the Shenzhen Component Index rose 12.7% However, the euphoria died down after the National Development and Reform Commission (NDRC)—China's economic planning board—held its planned press conference to discuss Beijing's stimulus measures. Prior to the holiday break, China's central government unveiled stimulus measures aimed at jumpstarting a sluggish economy, and investors who were hoping for more stimulus at the NDRC event were probably left underwhelmed. The chairman of the NDRC, Zheng Shanjie, said he was “fully confident” China would achieve its full-year economic and social goals. Beijing had set a target of 5% growth for this year, and in line with that goal, the NDRC said China will spend 200 billion yuan ($28.4 billion) on key investment projects this year—but held back on unleashing any more major stimulus duri
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