On Friday, the CSI 300 index of big Chinese companies traded in Shanghai or Shenzhen rose 4.5 percent and was up 15.7 percent this week. The gain was the largest in a single week for the index since November 2008, when share prices were gyrating violently with the onset of the global financial crisis.

Shares of Hermes, Richemont, and LVMH soared this week on hopes China's new stimulus will lead to more spending.

The narrative on European luxury-goods stocks has flipped in the space of a week. Under pressure for most of the year due to a slowdown in Chinese demand, the sector has rebounded strongly over the past five days with a Goldman Sachs basket of luxury companies set to notch its best week since 2012.

Emerging markets' stocks climbed to their highest since April 2022 on Tuesday after China introduced new measures to boost its sluggish economy.

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.

Chinese equities are on track for their best week since 2008 after Beijing launched an economic stimulus package including a $114bn war chest to boost the stock market. The CSI 300 index of Shanghai- and Shenzhen-listed companies is up 14.

Chinese property stocks and metal prices also rally after stimulus measures aimed at faltering economy. The full story on the Telegraph auction is here: Related: Telegraph auction: New York Sun owner a frontrunner as deadline looms Inflation in France and Spain has slowed more than expected,

By Stella Qiu SYDNEY (Reuters) -Chinese stocks raced toward their best week since 2008 and helped lift Asian shares to 2-1/2-year highs after Beijing rolled out a huge stimulus package to revive the economy,