Alibaba, Temu Parent PDD Tumble as China's Lack of Fresh Stimulus Disappoints

Group 1 - Chinese stocks experienced a significant decline after reopening from a week-long holiday, disappointing investors who anticipated additional stimulus measures [1][2] - The Chinese government indicated it would accelerate spending but largely reiterated previous plans focused on increasing investment and supporting fresh graduates and low-income groups [1] - The iShares MSCI China ETF fell more than 11% intraday, reflecting investor sentiment [2] Group 2 - U.S.-listed shares of major Chinese e-commerce companies, including Alibaba, JD.com, and PDD Holdings, saw a decline of approximately 6% [2]