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.

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.

Luxury sector stocks are suffering as European markets react to China's economic uncertainty and lack of fresh stimulus information.