China is back to work after the fall "Golden Week" holiday, and the sheen is coming off a recent market rally. A briefing from the country's top economic planner, the National Development and Reform Commission,

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 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 over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

European distiller stocks fell sharply after China said it would impose antidumping tariffs on brandy imported from the European Union, deepening tensions between the two trading powers.

China places a tax on European brandy imports in a move critics say is retaliation for recent tariffs on electric cars.