Shares of Chinese video-sharing platform Bilibili Inc. (NASDAQ: BILIBILI-W) soared by 7.24% on September 24, 2024, following the announcement of fresh stimulus measures by Chinese policymakers.

The stock rally was part of a broader surge in U.S.-listed Chinese companies, as investors cheered the unveiling of the biggest stimulus package since the COVID-19 pandemic. E-commerce giants Alibaba Group Holding, JD.com, and PDD Holdings saw their shares rise between 5% and 7.2%, while gaming stock Bilibili and search engine giant Baidu gained 6% and 3.7%, respectively.

Chinese stocks experienced significant gains, with the blue-chip CSI300 and Shanghai Composite indexes jumping over 4% each. Exchange-traded funds tracking China stocks, such as the iShares MSCI China ETF and KraneShares CSI China ETF, also saw substantial increases of 4.6% and 4.9%, respectively.

While analysts cautioned that additional fiscal support may be needed to stimulate faltering growth, the news of the stimulus package provided a temporary boost to Chinese stocks, including Bilibili. The company's strong performance reflects investor optimism about the potential positive impact of the government's measures on the broader economy and consumer spending.