Asian shares were mixed on Monday, but mostly down, as investors weighed China's economic stimulus promises that were made over the weekend without specifics. write Reuters.
It was previously reported that China may announce new incentives worth almost $300 billion, but as a result, the authorities did not give any figures.
At a news conference closely watched by markets on Saturday, Finance Minister Lan Foan promised to "significantly increase" debt but left investors guessing about the overall size of the stimulus, a detail needed to gauge how long the stock market rally will last.
"Most investors believe that Beijing's decision to restructure the debts of local governments and housing stock using central government funds is more significant than many foreign investors believe." - said in the client note of Morgan Stanley analysts.
That divergence was evident on Monday, when shares in Hong Kong opened lower and were volatile in early trade, in stark contrast to their mainland Chinese counterparts, which started the week on a higher note.
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