A highly anticipated press briefing by China's top economic planner fell short of expectations.

In September, Beijing unveiled a raft of monetary stimulus packages, including forced interest rate cuts and lower down payments of homebuyers to boost the economy. Later, the southern city of Guangzhou lifted all home purchase restrictions, while both Shanghai and Shenzhen revealed plans to ease key buying curbs.

Chinese chip stocks gained $13 billion on Monday as traders expect Beijing to extend stimulus support to the semiconductor industry on Tuesday.

Goldman Sachs has upgraded its expectations for Chinese stocks, telling investors that shares could go a further 20 per cent higher after a historic rally following Beijing’s pledge to do more to stimulate the economy.

The recent two-week rally sparked by the unveiling of the People’s Bank of China’s stimulus package has already seen one of the sharpest increases in Chinese equities in history. Goldman Sachs’ analysts said the rally could now have more legs.

Goldman Sachs analysts raised their China views to “overweight” and increased index targets. Analyst Timothy Moe said in a note that the market’s “outsized gains have been driven by the catalyst of decisive policy measures,