Asian stocks surge and then pare gains as China’s hotly-anticipated economic growth measures fail to deliver

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****** stocks surge and then pare gains as China’s hotly-anticipated economic growth measures fail to deliver

China said it was confident in reaching its economic targets this year and promised to further support growth, although it held back in unleashing more major stimulus in a disappointment to investors looking for more fuel for a world-beating stock rally.

Officials in the National Development and Reform Commission, the country’s economic planning agency, said on Tuesday they would speed up spending while largely reiterating plans to boost investment and increase direct support for low-income groups and new graduates.

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