China Stock Market Slump
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HSBC economist Jing LiuReuters
•Morning Bid: China stocks get a reality check; Europe shudders
77% Informative
China 's soaring stock market back to earth with a thud on Wednesday .
Disappointment about the lack - so far - of follow-through on stimulus promises triggered a pullback in a spectacular rally.
China watchers say yesterday 's news conference was never going to be the forum for a substantial policy announcement.
Elsewhere the New Zealand dollar slid through its 200-day moving average as the central bank cut interest rates by 50 basis points.
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