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.

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank.

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

Tesla stock rose in early trading Friday, a sign that it will likely close out another strong week with a big gain. While China’s efforts to jump-start its economy helped this week, the company’s robotaxi event—coming in less than two weeks—is likely to provide support in coming days.