Mainland stocks slide ahead of National People's Congress meeting

The Shanghai Composite Index fell by 1.08% to close at 3,286.

Mainland stocks slide ahead of National People's Congress meeting

In comparison, the Shenzhen Component declined by 1.33% to finish at 10,543 on Tuesday, as mainland stocks ended a two-day winning streak amid cautious investor sentiment ahead of a high-level meeting next week. Authorities are expected to announce additional stimulus measures during the National People’s Congress, scheduled for November 4-8, with the market anticipating updates on debt and fiscal policies. Additionally, the People’s Bank of China announced on Monday that it will conduct monthly outright reverse repo operations to enhance liquidity, expanding its monetary policy toolkit.

Major firms suffer significant losses, including Longi Green Energy and Zhongji Innolight

Significant losses were reported among major companies, including East Money Information (-2.1%), Longi Green Energy (-4.2%), Zhongji Innolight (-4.7%), Contemporary Amperex (-1.7%), and Kweichow Moutai (-2.1%).