The euphoria was thanks to Beijing's big-bang stimulus announcement, that showed urgency and concerted commitment to boost China's ailing economy.

China’s problems run deep, but policymakers are changing their tone. Experts are taking note but are still wary as previous moves haven’t worked.

Stocks in Asia are mostly higher, boosted by moves by China to rev up its economy. The Hang Seng in Hong Kong advanced 3.7% and the Shanghai Composite index jumped 2.1% after China’s central bank cut

Indexes rallied Thursday amid a surprise fall in jobless claims and promises from China to further invigorate the country's sluggish economy.

China stocks closed out their best week since 2008 as the country's central bank cut its reserve requirement for banks.

China’s economic rebound could offer a positive surprise for the rest of the emerging markets in Asia (NASDAQ:EEMA). Brian Tan, Barclays’ senior regional economist, based in Singapore, said in a note that a 1 percentage point increase in China’s GDP growth would boost Taiwan’s about 0.