The euphoria was thanks to Beijing's big-bang stimulus announcement, that showed urgency and concerted commitment to boost China's ailing economy.

China’s problems run deep, but policymakers are changing their tone. Experts are taking note but are still wary as previous moves haven’t worked.

World shares have surged following reports that China plans to spend billions of dollars to help rebuild the capital of state-run banks and provide other fiscal support for the economy.

Indexes rallied Thursday amid a surprise fall in jobless claims and promises from China to further invigorate the country's sluggish economy.

A move like that is scary to chase, especially in a market as volatile as China’s, where the merest suggestion of regulatory scrutiny or lack of monetary stimulus could reverse things in a hurry. Then there are the warnings about the lack of oomph the stimulus measures are expected to provide.

China’s long-awaited stimulus measures may have been too much for the markets to handle. With shares soaring and turnover reaching 710 billion yuan ($101 billion) in the first hour of trading on Friday,