China’s stock markets are staging a strong turnaround as investors anticipate a major policy shift in the world’s second-largest economy.

Chinese stocks soared on Monday, extending gains for the beleaguered asset class on hopes policymakers will pair their monetary support with fiscal policy action.

Chinese property stocks powered higher in mainland and Hong Kong stock markets, thanks to a barrage of measures from Beijing to stabilize the country’s struggling property market.

Chinese stocks extended one of their most remarkable turnarounds in history, soaring for a ninth straight day as government stimulus entices investors back to one of the most beaten-down markets worldwide.