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The CSI 300 index is poised for its biggest daily gain in 16 years, presently up 8.2%, and both iron ore and Chinese developer stocks surged after three major cities eased rules on housing purchases.

Overnight, Chinese equities have rallied sending property and technology companies listed in Hong Kong on their way to their best week on record, the moves come after Beijing announced monetary and fiscal support for the region’s largest economy.

Another good night for Asian equities. The Hang Seng is up 3%, as is the CSI 300, mainly related to the headline that "China is to implement 'FORCEFUL' interest rate cuts" (source: Politburo).