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  Chinese Stocks Tumble In Hong Kong As Fiscal Planning Fails To Materialize Chinese stocks tumbled in Hong Kong as a high-profile legislative meeting disappointed some investors who had been hoping for massive stimulus to revive domestic demand and tackle deflation. Chinese Stocks Tumble In Hong Kong As Fiscal Planning Fails To Materialize   The HangSeng China Enterprises Index was down 1.6% as of 1:19 p.m. local time, with property and consumer-related stocks leading the biggest losses. The CSI 300 index was volatile, reversing an earlier drop of 1.4% to trade little changed. A gauge of Chinese developer stocks tracked by Bloomberg Intelligence was briefly down more than 6%. Schroders Cuts Top Executives In Effort To Revive Growth Linked To New CEO   The mixed reactions came as investors digested Beijing's latest fiscal package, which focused on reducing local government debt burdens and lacked new stimulus for consumption. The results were somewhat disappointing given...

  Schroders Cuts Top Executives In Effort To Revive Growth Linked To New CEO Schroders PLC is reducing the number of members on its executive committee from 22 to nine, reflecting new Chief Executive Officer Richard Oldfield’s effort to revive the fortunes of the U.K.’s largest standalone asset manager.   As part of the overhaul, Ed Houghton, who most recently served as a director at Legal & General Group PLC , is joining Schroders and its management committee as head of strategy and investor engagement, according to a statement seen by Bloomberg News. Mary-Anne Daly will remain on the panel, overseeing wealth management; private-wealth head George Wunderlin will become head of Schroders Capital; and Karin Szenberg will take over as sole head of the client group. Oldfield's first move as CEO comes as he faces pressure to make cost cuts at the 220-year-old company, whose stock has fallen more than 50% over the past three years. Oldfield, who will join Schroders as chief fin...