China's yuan hit a 16-month high against the U.S. dollar on Tuesday, after the central bank of the world's second-largest economy revealed new stimulus measures, while the greenback extended declines against other major currencies after soft data on the consumer.

China: Week's second stimulus shot boosts markets. The China stock rally returned as Beijing announced more measures to revive the world's second-largest economy, including cash h

Stock markets in China and Hong Kong jumped on Thursday, led by gains in the embattled property sector, as Beijing pledged more policy measures to spur growth just days after announcing big rate cuts and funding for the markets.

Global stock indexes were little changed on Wednesday after reaching record highs this week, while the dollar hit a 14-month low against the euro as traders bet the Federal Reserve will make another large interest rate cut at its November meeting.

The yuan reached its highest level in over a year on Wednesday following interest rate cuts and new measures from China’s central bank.