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$Hang Seng Index (800000.HK)$ China's finance ministry is s...
China's finance ministry is set to hold a media briefing on Saturday, reigniting expectations that Beijing is readying fiscal stimulus to boost the economy.
The announcement came a day after the nation's top state planner failed to meet hopes for additional fiscal measures, weighing on market sentiment in China and Hong Kong.
China's finance minister, Lan Foan, will chair the press conference scheduled to start at 10 a.m. on Saturday, the State Council Information Office said in a notice on Wednesday. Saturday is a working day in mainland China, though markets will be closed.
The minister will introduce measures to "intensify countercyclical adjustment of fiscal policy," the notice said, without providing additional details.
The benchmark Shanghai Composite Index pared losses after Wednesday's announcement, and was last down 4.2%. In Hong Kong, the Hang Seng Index reversed losses to swing into positive territory, and was last up 0.2%.
Sentiment in Chinese equities markets had softened Tuesday after the National Development and Reform Commission press conference offered few concrete measures to boost the economy.
Officials reiterated a commitment to this year's 5% economic growth target and vowed to step up the implementation of previously announced support measures.
Some investment banks and research houses had anticipated that the NDRC might unveil trillions of yuan of additional fiscal stimulus, but that's not within the state planner's jurisdiction.
Ad-hoc policy meetings by the finance ministry are more credibly on the radar as a potential window for fiscal stimulus announcements.
Fiscal packages in China are typically designed and announced by the Ministry of Finance and approved by the National People's Congress rather than the NDRC, CreditSights analysts noted.
"We think that it is too early to rule out any additional fiscal stimulus, but the scale may again fall short of market expectations," CreditSights' Zerlina Zeng and Karen Wu said in a note.
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JYthebest : useless one
71513705 : Same
Another day 
102566976 : is that a sudden media briefing?
the massive amount of flip flop going on here is just amazing isn't it?
Dooomer : They are going second round of talking cock, amazing!