Chinese stocks on Wednesday extended their rally triggered by Beijing’s stimulus bazooka, though optimism elsewhere in the region could not be sustained

Chinese stocks extended their gains on Wednesday as investors continued to bet that Beijing’s latest stimulus measures would help drive a market turnaround and kickstart the country’s sluggish economy.

Chinese stocks surged for a second day, fueled by stimulus measures, while other regional markets struggled. The People's Bank of China announced wide-ranging policy easing, including a rate cut. Meanwhile,

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.

China’s stocks climbed Tuesday, fueled by the central bank’s latest blitz of policy measures designed to stem the worsening economic outlook and market mood.

Chinese stocks surged, lifting regional markets and supporting risk-sensitive currencies, while Brent crude remains near a three-week high. U.S. economic data weakened the dollar, raising chances of a significant Fed rate cut.

BEIJING - Chinese stocks closed higher on Wednesday, buoyed by a raft of stimulus policies announced by authorities on Tuesday. The benchmark Shanghai Composite Index closed up 1.16 percent to 2,896.31 points,

By Tom Wilson and Kevin Buckland LONDON/TOKYO (Reuters) -Stocks globally slipped on Wednesday, with a continued stimulus-fueled rally in China the one bright spot, while the dollar came under pressure and crude oil retreated from a multi-week high.