Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at:

China's $114 billion stimulus has some investors excited, but it's lacking support for the country's discouraged consumers.

Mainland China stocks surged another 4% on 30th September, culminating in a 16% rise in the last five days. The stock market frenzy kicked in after the People’s Bank of China (PBOC) announced new policy easing measures that unlocked more than $140 billion in liquidity.

Nvidia stock dropped in premarket trading before paring losses, following a report that China is urging local companies not to buy its AI chips.

BEIJING, Sept. 30 (Xinhua) -- The recent rally in China's stock markets, fueled by a series of stimulus measures, has significantly ignited investors' enthusiasm and bolstered market confidence in the country's economic recovery.

Monday is the last trading day before the week-long National Day holiday. The Chinese stock markets will be closed Tuesday through Oct 7.

Skeptics have been out in force since China rolled out aggressive stimulus measures last week to prop up its ailing economy and markets. It's just not enough to reverse the magnitude of China's problems — including an epic property crisis and high youth unemployment — they say.

Chinese stocks extended a blistering rally on Monday with those in the mainland headed for their best month in almost a decade, as Beijing rolled out further stimulus measures to arrest a slowdown in the broad economy.

China's CSI 300 rallied 8.48%, closing at 4,017.85 for a nine-day winning streak, its best day since September 2008 and its highest point since August 2023.