Chinese shares fell on Wednesday and commodities nursed sharp losses as investors tempered enthusiasm for a Chinese economic recovery, while broader markets steadied on expectations that the U.S. economy can avoid recession and support global demand.

A rally in onshore Chinese stocks on their return from a week-long holiday cooled as traders questioned Beijing’s resolve to add more stimulus. Shares in Hong Kong tumbled.

A stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors. Shares had jumped by over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

By Tom Westbrook SINGAPORE (Reuters) -Chinese shares slumped and commodities were struggling to find a footing on Wednesday as investors tempered expectations for a robust Chinese economic recovery, while a downbeat outlook from New Zealand's central bank sent the kiwi to a seven-week low.