Chinese stocks began Tuesday’s session with a bang — an onshore benchmark surged 11% as soon as trading resumed after a weeklong break. But the enthusiasm faded as the day progressed, with the lack of more major stimulus from a key policy meeting disappointing investors.

A highly anticipated press briefing by China's top economic planner fell short of expectations.

Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors sought to profit from a blistering rally, which was dampened by the lack of powerful stimulus measures to revive the economy.

A stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors. Shares had jumped by over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

China's stock rally could extend another 15% to 20%, Goldman Sachs says. China's equity indexes have jumped dramatically since Beijing announced major stimulus policies. Goldman highlighted still low valuations and diminishing risk as tailwinds for a continued rally.

The government has fired up investors by encouraging banks to lend more to buyers of stock and real estate, but economists say more stimulus is needed.

A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.

Asian Markets Decline as U.S. Rate Worries Weigh on Investors On Tuesday, most Asian markets fell, tracking overnight losses in Wall Street. A strong U.S. labor market increased concerns that the Federal Reserve