The government has fired up investors by encouraging banks to lend more to buyers of stock and real estate, but officials refrained on Tuesday from promising more stimulus.

China's stock markets roared back from a week-long break to reach their highest levels in more than two years at the open, before paring gains after officials failed to inspire confidence in stimulus plans intended to revive the economy.

A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.

A stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors. Shares had jumped by more than 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

China's stock markets roared back from a week-long break and climbed to their highest levels in more than two years at the open, but lost steam after officials failed to inspire confidence in stimulus plans intended to turnaround a sputtering economy.