China Stocks Mixed As Rally Shows Signs Of Steam Loss

China-focused stocks were mixed early in trading on Wednesday, as the week's rebound showed signs of slowing.

The CSI 300 index of the main Shanghai and Shenzhen shares was down 0.2%, but in Hong Kong, the Hang Seng China Enterprises index added 0.5%. Both indexes Tuesday reached their highest level since June.

The broader Hang Seng index rose 0.4%, with only the telecommunications sector in negative territory. The Tokyo Topix also advanced 0.4%, with significant gains for the basic materials, utilities and energy sectors.

In Sydney, however, the S & P / ASX 200 index was down 0.3%, with declines for most segments offsetting the 1.5% rise in commodity stocks.

Movements came after the quarterly profits of US companies spurred Wall Street and followed the new measures taken by the Chinese authorities to boost the country's economy, injecting a more confident tone into the global equity markets and industrial metals Tuesday

. The decision of the central bankers in Beijing was overall positive, the economist of ING China, Iris Pang, has been reluctant to overestimate the scale of recovery.

"While the State Council announced fiscal stimulus measures of $ 386 billion, only a small portion of these measures is a new stimulus measure, rather than mere planned spending," he said. Ms. Pang. "The good news, though, is that the government wants to spend money sooner than expected."

Overnight, the Nasdaq Composite index, very busy with technology, reached a record high early in the day. Shares of Alphabet, the parent company of Google, reached a record high after their results exceeded expectations.