The pressure is on for China’s Finance Ministry to deliver more fiscal stimulus at a press conference on Saturday.

Many investors and analysts viewed the move as a signal that Beijing was finally ready to take drastic action to revive its ailing economy, following a barrage of disappointing data and amid a slump in consumer confidence. At the time, Chinese major indexes began to rally, surging over 25% as investors cheered on the slate of stimulus measures.

After four miserable years, stock market in Hong Kong and mainland China are finally soaring, but whether benefits from the economic stimulus measures announced in September spread beyond stock investors and into the real economy have yet to be seen.

China may deploy as much as 2 trillion yuan ($283 billion) in fresh fiscal stimulus as Beijing seeks to shore up the world’s No. 2 economy and boost confidence, investors and analysts said.

SHANGHAI/SINGAPORE (Reuters) -Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors sought to profit from a blistering rally, which was dampened by the lack of powerful stimulus measures to revive the economy.

Stocks in China slumped on Wednesday, with Shanghai’s benchmark down 6.6% and Hong Kong’s losing 1.5% as investors dumped shares to lock in profits after recent rallies driven by hopes for major economic stimulus.

Investors are on tenterhooks as Beijing prepares to deliver fresh policies to boost its economy. China's top state planner underwhelmed investors by announcing smaller-than-expected actions earlier this week,

Investors and analysts expect China to unveil billions of dollars in new stimulus for its troubled economy Saturday as officials battle multiple headwinds including a prolonged housing crisis and sluggish consumption.

China stocks opened down on Friday, as investors cautiously await further policy announcements from a finance ministry press conference scheduled on Saturday. The Hong Kong market was closed for a holiday.