China-exposed assets jumped on Tuesday after Beijing announced its biggest stimulus since the pandemic in a bid to pull the world's second-largest economy out of the deflationary funk that has shaken global currency and equity markets this year.

Commodity prices have climbed this week, with oil, silver, and copper among the more recent standouts, buoyed by China’s stimulus measures, but traders should be wary about the outlook for the sector until they see evidence that the global economy will avoid a hard landing.

The People’s Bank of China (PBoC) implemented the strongest stimulus measures since the Covid-19 pandemic. Despite concerns about the stimulus’s effectiveness, China’s stock market experienced