Stocks and commodity prices rose around the world on Wednesday amid hopes that China’s leaders would unveil their second economic stimulus package in four months at Friday’s opening of the National People’s Congress.

The Shanghai Composite, China’s leading stock market index, rose more than 6 per cent in its biggest one-day gain since November, after a senior official said premier Wen Jiabao would outline new spending plans to combat the global downturn at the NPC, China’s legislature.