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[hfe_template id='11223'] [ad_1] Shares of metal stocks like NMDC, NALCO and Tata Steel fell up to 8% on Tuesday after top consumer China held back from unleashing more stimulus. At a briefing, China's state planner National Development and Reform Commission said they were confident of reaching its economic targets this year and promised further support for growth but disappointed investors who were looking out for more stimulus measures. The government will focus on accelerating the absorption of housing inventory, increasing the quality of homes and revitalizing existing land, among other targets, said NDRC Chairman Zheng Shanjie. "The long-awaited conference this morning failed to deliver the expected signal of further strong stimulus," said Pei Hao, an analyst at international brokerage Freight Investor Services. Back on Dalal Street, NMDC shares fell 7.7% to day’s low of Rs 211 on the BSE, while those of Tata Steel fell by 4.6% to Rs 156.70. Meanwhile,...

[hfe_template id='11223'] [ad_1] China's runaway stocks rally began losing steam on Tuesday and Hong Kong shares slumped as officials disappointed markets by providing few specific details on plans to bolster China's slowing economy. Mainland markets roared back from a week-long break, hitting two-year peaks with turnover surging past a trillion yuan inside the first 20 minutes of trade. But the benchmarks were soon off their highs and proxies for Chinese growth slipped across Asia as the stimulus-backed buying frenzy showed signs of cooling. The Shanghai Composite was up 3.1% in afternoon trade and the blue-chip CSI300 rose 4%, having earlier surged as much as 10.1% and 10.8% respectively. Hong Kong's Hang Seng, catapulted to be the top-performing major market this year aided by blistering gains in recent sessions, slid 7.7%. The Australian dollar fell 0.4% and the yuan headed for its sharpest drop in a year. Iron ore and other industrial metal prices - whi...