Investors of Chinese stocks are in for a rollercoaster ride. Onshore bourses staged a weaker-than-expected rally following a week-long holiday while shares in Hong Kong plunged. True, valuations are cheap and funds remain underweight.

A stock market rally in China has fizzled out as a highly-anticipated announcement on plans to boost the country's ailing economy disappointed investors. Shares had jumped by over 10% as trading restarted after the Golden Week holiday but fell back after a news conference by the country's economic planners.

After a strong start, with shares surging over 10% following the Golden Week holiday, Chinese stocks reversed course as the much-anticipated news conference failed to deliver substantial details about boosting the country’s sluggish economy.

Chinese markets reopened following their Golden Week break with investors hoping the National Development and Reform Commission would outline more stimulus measures. Here are the key takeaways from today’s events.

Sentiment in China's stock markets have been massively bolstered by Beijing's late-September 24 announcement of aggressive economic stimulus.

SHANGHAI (Reuters) -Chinese shares soared to two-year highs on Tuesday, pushing a blistering rally even further as trade resumed after a week-long holiday and investors bet on stimulus supporting the economy.