Chinese stocks slip about 1% despite regulators' fresh stabilizing measures
Business
Chinese stocks slipped about 1% on Tuesday, even after Chinese regulators rolled out fresh measures to steady the shaky market.
Energy and tech shares fell, while Hong Kong's Hang Seng Index barely budged.
China property worries prompt exits
Regulators tried to boost confidence with steps like swap operations and encouraging companies to buy back their own shares, but these changes fell short of market expectations.
Investors holding battered technology stocks were using any market rebound as an opportunity to exit their positions.
Worries about China's property sector, especially news of Zhuhai Huafa Group asking for loan extensions, kept nerves high.
The CSI300 had already dropped 8.5% last month, its worst showing in over 10 years.