China stocks just saw their best day of trading since 2008 amid a stimulus rally

This marks a nine-day winning streak, its best day since September 2008 and its highest point since August 2023.

Aerial view of vehicles being driven on the road through the central business district on October 5, 2020 in Beijing, China.Stocks in mainland China surged over 8% for its best day in 16 years while Japan'sMainland China's CSI 300 rallied 8.48%, powered by health-care and tech stocks and closing at 4,017.85. This marks a nine-day winning streak, its best day since September 2008 and its highest point since August 2023.

The Caixin PMI survey, which is a private survey compiled by S&P Global, reported that the manufacturing PMI fell to 49.3 from 50.4 in September, lower than the 50.5 expected from the Reuters poll.Hang Seng index Markets on the mainland will only be trading on Monday, before closing for the rest of the week due to the Golden Week holiday.

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