Chinese stocks surged Thursday as investors responded favorably to Beijing’s commitment to jolt its economy, with New York-listed shares of the firms adding hundreds of billions of dollars, helping boost American stocks as well.

China’s stock market surged the most in more than two years and industrial commodity prices bounced after Beijing on Tuesday unleashed a swathe of stimulus measures.

Chinese stocks made brisk gains on Wednesday, extending their stimulus-fueled rally to a second day, even as equities in the rest of the region struggled and crude oil retreated from a multi-week high.