China equities lag behind Asia peers despite premier’s call for more support

China’s benchmark index opened lower on Tuesday, a day after the country’s premier called for more “forceful” measures to support the domestic stock market.

The CSI 300 shed 0.2 per cent in early morning trading, while Hong Kong’s Hang Seng index added 1.6 per cent, Japan’s Topix rose 0.4 per cent and South Korea’s Kospi gained 0.1 per cent.

“More forceful and effective measures should be taken to stabilise the market and boost confidence,” Premier Li Qiang said during a meeting of the State Council, China’s cabinet, on Monday. The CSI 300 fell to a five-year low on Friday.

US equities reached new all-time highs during trading on Monday, buoyed by bets on large-cap technology stocks.