China's stocks dropped on Tuesday, led by liquor and consumer shares, despite interest rate cuts.

China's stocks dropped on Tuesday, mainly driven by liquor and consumer-related shares, despite the government's efforts to stimulate domestic consumption and growth through interest rate cuts. The Shanghai Composite index fell 0.59% to 2,946.63 points, with the CSI300 index declining 1.05%. The move comes after China lowered major short- and long-term interest rates, but market pessimism remains.