China's stimulus bazooka unveiled Tuesday has, unsurprisingly, boosted Chinese stocks listed on U.S. exchanges.

What's less apparent is that stocks with exposure to China are also getting the same treatment 🐻from investors. The reason? As the world's second-largest economy, China carries significant weight. Its housing slump and tepid consumer spending impact multiple global industries, affecting the fortunes of iron ore miners to those of lu🥀xury handbag makers.

On Tuesday, China’s central bank unveiled a large stimulus package to restore confidence in the troubled housing market and to lift the country's moribund economy.

Among Beijing's moves: A cut in short-term interest rates, allowing banks to hold less money in reserves, lower interest rates on existing mortgages, and a plan to inject billions o𓆏f dollars of liquidity into the stock market.

Caterpillar,✃ F🐎reeport McMoran Join Others in Getting a Lift

China's flailing economy also has slowed construction activity in the country. But the 澳洲幸运5开奖号码历史查询:stimulus announcement Tuesday gave Caterpillar (CAT) stock a lift.

As the largest consumer of metals, China’s economic stimulus has fueled a rise in iron ore and copper prices. This, in turn, lifted shares of mining companies like Freeport-McMoRan (FCX), a copp🐎er and gold miner, which jumped 8% by late Tue♏sday trading.

While Chinese luxury consumption hasn't reached 2021 levels, it still accounted for almost a 澳洲幸运5开奖号码历史查询:fifth of the world’s total, according to consultancy Bain & Co. Shares of Burberry (BURBY), the British maker of trench coats; LVMH (LVMUY), known for Louis Vuitton handbags and 澳洲幸运5开奖号码历史查询:other luxury goods; cosmetics firm Estee Lauder (EL); and Gucci's parent company, Kering (PPRUY), all posted gains Tuesday.

Exchange-traded funds 澳洲幸运5开奖号码历史查询:(ETFs) focused on China shares also powered higher after the stimulus announcement Tuesday. The $4.4 billion iShares MSCI China ETF (MCHI) jumped almost 9%. The iShares China Large-Cap ETF (FXI), with roughly $4 billion in assets, rose about 9.5%, The ETF tracks the FTSE China 50 Index, giving investors exposure to the 50 largest companies trading on the Hong Kong Stock Exchange.

Still, most economists said Tuesday's measures won't be enough to lift China's weak domestic demand. "The announcement today appears to signal greater openness to easing from senior policymakers, but more fiscal easing measures are needed to boost domestic demand in our view," said Goldman Sachs analysts in a research note.