CSI 300 down 13% this quarter despite Beijing support
Business
Chinese blue-chip stocks are still stuck near one-year lows, despite the government rolling out new support for credit and investment.
The CSI 300 index barely moved up by 0.2% on Wednesday morning and is down about 13% for the quarter, the biggest drop since the COVID-19 lockdowns in 2022.
Weak local demand and cautious trading before the National Day holiday aren't helping either.
Investors unconvinced by Beijing measures
Beijing just announced fresh measures, like cutting a key lending rate and offering more financing for tech firms and small businesses to try to boost the economy.
But investors aren't convinced these steps are bold enough, especially when compared to bigger interventions in past years.
For now, doubts about China's economic recovery are keeping markets on edge.