China’s CSI 300 stock index, which just had its best week since 2008 , could rise 10% in the near term, according to Morgan Stanley’s Laura Wang. The CSI 300, which tracks major stocks on the Shanghai and Shenzhen exchanges, on Friday closed at 3,703.68 points, up 15.7% for the week. Wang, chief China equity strategist at Morgan Stanley, told CNBC’s ” Street Signs Asia ” Friday that the index could rise by another 10%. But she cautioned that more details on Beijing’s recent economic stimulus measures were needed for a sustained rally. “Well, we actually think that there is a further leg to go for the rebound,” she said. “As we have being doing analysis on the recent relending program and the other market stabilization facilities we realized that for most of the companies [that have] qualified for the program, to tap into these facilities, [the] CSI 300 could have another 10% upside in the near term from a technical perspective,” she added. Investors have piled into Chinese stocks after China’s central bank this week announced a slew of measures to shore up economic growth, including cutting the reserve requirement ratio of cash banks by 50 basis points. Hedge funds on Tuesday spent the most money on Chinese stocks since March 2021 , according to Goldman Sachs, noting it was the second-highest day of such purchases in 10 years. Chinese stocks rose further after Beijing on Thursday called for halting the real estate slump and a strengthening of monetary and fiscal policy. They also affirmed the previously announced stimulus measures. U.S. billionaire hedge founder David Tepper told CNBC’s ” Squawk Box ” on Thursday that he saw China’s latest policy moves as major shift in the wake of the Federal Reserve’s rate cut last week. He said he’s bought more Chinese stocks since. Still, it remains to be seen whether the rally can run higher in the longer term. Chinese stock markets are only open for one more trading day before the country takes off Tuesday for its seven-day National Day holiday, also known as “Golden Week.” Wang said it’s “very, very critical” for the government to share specifics on a stimulus execution plan given the upcoming holiday. “After the break, we would really like to see as soon as possible the execution details on the physical spending and on the market stabilization measures,” Wang said. “All of these need to take place very, very quickly in the coming weeks or in a couple of months, to make this more sustainable into a real recovery rally.”