'Disappointment of stimulus measures': Major Chinese stock indexes plunge all at once

Major Chinese stock indexes tumbled amid disappointment over Chinese authorities' stimulus measures.

The closing price of the CSI 300 index, which consists of the top 300 stocks in the Shanghai and Shenzhen stock exchanges, fell 7.05%, ending a 10-day winning streak.

The Shanghai Composite Index fell 6.62%, while the Shenzhen Composite Index plunged 8.65%.

However, the fall was reduced as China's Ministry of Finance predicted a press conference on fiscal policy on the 12th.

Hong Kong's Hang Seng Index and Hong Kong's H Index, made up of mainland Chinese companies listed in Hong Kong, also fell 1.38 percent and 1.58 percent, respectively.

Chinese stocks had rallied thanks to a series of stimulus measures announced before the National Day holiday.

However, when the National Development and Reform Commission, China's general economic planning department, did not offer specific additional stimulus measures, the market mood has turned negative.

The announcement that spending per tourist has not recovered to pre-COVID-19 levels also played a negative role in the stock market, as the number of tourists increased 10.2% over the National Day holiday compared to 2019, but spending rose only 7.9%.