Chinese Markets Plunge Amidst Policy Uncertainty

Chinese and Hong Kong shares fell sharply, led by property and commodity stocks, as the lack of stimulus from the Politburo meeting and weak manufacturing data affected investor sentiment. The anticipated policy meeting did not introduce significant growth strategies, and anxiously-watched U.S.-China trade talks lacked impactful developments.

Chinese and Hong Kong shares experienced a downward spiral on Thursday, predominantly driven by declines in property and commodity stocks.

This drop follows the Politburo meeting, where leaders promised to support the economy by controlling competition but did not commit to immediate stimulus, compounding investor concerns.

Contributing to the market gloom was the release of declining manufacturing data, marking the fourth month of contraction. As U.S.-China trade talks loom with an approaching truce deadline, the lack of clear direction deepens market uncertainties.

(With inputs from agencies.)