Chinese stocks in Hong Kong declined after a high-profile legislative meeting let down some investors who had been hoping for large-scale stimulus to revive domestic demand and combat deflation.

Hang Seng index down 1.5% after Beijing unveils $1.4tn plan to restructure local government debt but no consumer support

Hong Kong stocks slid after data showed borrowing in mainland China slowed in October and investor confidence remained subdued following Beijing’s latest policy announcements. The Hang Seng Index fell 1.