China’s Markets Lose Steam As Stimulus Lacks Details. CSI 300 Gains Trims Gains From Post-Golden Week Surge.

The rally in Chinese markets lost momentum on Tuesday after the National Development and Reform Commission briefing failed to provide substantial details on additional stimulus measures. Mainland China’s CSI 300 surged over 10% at the open, post-Golden Week, before trimming gains. Hong Kong’s Hang Seng Index plunged over 10% before recovering slightly. Other Asia-Pacific markets were mostly down, influenced by Japanese pay and spending data. In the U.S., markets faced pressure from rising oil prices and higher Treasury yields. The 10-year Treasury yield hit above 4%, its highest since August, while U.S. crude prices surged over 3%.