Chinese stocks came under pressure on Tuesday after a disappointing update from the government tempered some of the exuberance that has propelled Chinese equities out of a bear market in recent weeks.

Chinese stocks listed onshore suffered their biggest drop in more than four years as traders grew impatient over the pace of Beijing’s stimulus measures and weak holiday-spending data hurt sentiment.

Chinese shares soared to two-year highs on Tuesday as mainland markets reopened from a week-long holiday to a flurry of speculation of more stimulus from Beijing. The blue-chip CSI300 was up 10% in early trade to its highest since mid-2022 and the Shanghai Composite rose 9.