Briefing: Chinese Stocks Fall Ahead of Expected Fiscal Stimulus Announcement

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The benchmark Shanghai Composite Index shed more than 2.5% Friday in a broad-based sell-off that hit the tech and new-energy industries particularly hard.

A rundown of the news making headlines in and around China:

Stocks: Chinese mainland shares took a drubbing a day ahead of a government press briefing Saturday, where new fiscal stimulus policies are expected to be announced. The benchmark Shanghai Composite Index shed more than 2.5% Friday in a broad-based sell-off that hit the tech and new-energy industries particularly hard. A big announcement from this weekend’s press briefing could reignite the stimulus rally that faltered this week. This is because a slate of new fiscal measures would answer recent calls for policymakers to augment earlier announced monetary initiatives with government spending.

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Chinese stocks dropped over 2.5% on Friday, anticipating new fiscal stimulus policies, with tech and new-energy sectors hit hard.
Shenzhen real estate groups urged landlords to reduce or waive rent to support struggling businesses, aligning with government priorities.
China and Japan expressed hopes for improved relations; Japan requested securing citizen safety and resuming seafood exports.

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