China stocks tumble as Beijing unveils measures to prop up flagging economy

News Snapshot:

Open this photo in gallery: Bull statues are pictured in front of screens showing the Hang Seng stock index outside Exchange Square, in Hong Kong on Aug. 18, 2023.TYRONE SIU/Reuters Chinese authorities announced a slew of measures Friday to address growing concern over the state of the world’s second largest economy. Government data in the past two weeks has shown poor growth and weak consumer sentiment, which, combined with a growing crisis in the country’s highly-inflated housing market has shaken investor confidence and sent stocks and bonds tumbling. On Friday, the China Securities Regulatory Commission said it would cut handling...