On Friday, the CSI 300 index of big Chinese companies traded in Shanghai or Shenzhen rose 4.5 percent and was up 15.7 percent this week. The gain was the largest in a single week for the index since November 2008, when share prices were gyrating violently with the onset of the global financial crisis.

Shares of Hermes, Richemont, and LVMH soared this week on hopes China's new stimulus will lead to more spending.

Chinese markets clocked their best week in almost 16 years as the mainland’s CSI 300 rallied 15.7% this week, buoyed by several economic stimulus measures by the central bank.