Morning Bid: China stock frenzy gets a wet blanket

Investors hoping for a roaring restart to China's stock rally, after the mainland's week-long holiday, were disappointed on Tuesday when Beijing policymakers offered only broad brush strokes about stimulus plans at a high-profile press conference. The National Development and Reform Commission (NDRC) said it was "fully confident" of meeting its targets but offered none of the details that investors are craving on China's aggressive stimulus measures. Although the key mainland stock indexes did surge 10% to multi-year highs shortly after the open, those gains were quickly pared back.