China-focused 澳洲幸运5官方开奖结果体彩网:exchange-traded funds (ETFs) and stocks of Chinese companies listed on U.S. exchanges surged Tuesday soon after the opening bell, buoyed by Beijing's broad stimulus package of monetary measures aimed at boosting the country's 澳洲幸运5官方开奖结果体彩网:sluggish economy.

On Tuesday, China cut a key short-term interest rate and reduced rates on existing mortgages to reverse a housing market slump. The government also lowered the amount banks need to set aside as reserves, and announced plans for at least 800 billion yuan ($114 billion) of liquidity to shore up its long-struggling stock market.

China-ETFs, Alibabꦆa, Temu Pare💖nt PDD Rise on Confidence Boost

The measures were largely on the monetary side and immediately lifted investor sentiment towards assets linked to the health of the Chinese market.

The $4.4 billion iShares MSCI China ETF (MCHI) jumped 6.7%. The iShares China Large-Cap ETF (FXI), with roughly $4 billion in assets, rose nearly 7%, The ETF tracks the FTSE China 50 Index, giving investors exposure to the 50 largest companies trading on the Hong Kong Stock Exchange.

The Nasdaq Golden Dragon China index (HXC)—an index of 64 China-based companies traded in the U.S.—was up 6.4% in early trading Tuesday after being basically trading flat this year. In contrast, the 澳洲幸运5官方开奖结果体彩网:S&P 500 was largely unchanged.

澳洲幸运5官方开奖结果体彩网🐷:American depositary receipts (ADRs) of Chinese conglomerate Alibaba Group Holding (BABA) were up 6% while those of online marketplace JD.com (JD) and Temu parent PDD Holdings (PDD) jumped more than 9% and 8%, respectively. Tencent Holding (TCEHY) ADRs rose more than 4%.

Chinese electric vehicle (EV) makers XPeng (XPEV), Nio (NIO) and Li Auto (LI) also gained at least 6% Tuesday morning.

Both Brent and WTI crude traded higher likely amid optimism that these measures could aid in reversing the 澳洲幸运5官方开奖结果体彩网:demand slowdown from one of the world's largest oil consumers.

Nomura Says China Measures Not Enough to 'Arrest' China Slowdown

While the measures drove up stocks and investor sentiment, analysts said they won't be enough to stop the economy's downward trajectory.

"While these measures will boost confidence to some extent, we do not believe these monetary and financial policies alone are enough to arrest the worsening economic slowdown," Nomura analysts said in a note Tuesday. "We believe fiscal stimulus should take the front seat."

They suggested fiscal measures such as providing the housing market with direct funding and increasing pension payments to the poor as possible solutions.