New Oriental Education & Technology Group (EDU) saw its stock price soar by 9.52% during Wednesday's intraday trading, outperforming the broader market in a significant upward movement. This surge comes as part of a wider rally among Chinese stocks listed in the United States.

The Nasdaq China Golden Dragon Index, which tracks major Chinese companies listed on American exchanges, rose by 2.25% on the same day. Other Chinese education stocks also saw gains, with TAL Education climbing more than 6%. Tech giants were not left behind, as evidenced by Alibaba's 2% increase.

Market analysts attribute this broad-based rally to expectations of supportive measures from China's central bank. Industry insiders suggest that, given the recent volatility in the external environment, the central bank may focus on maintaining ample market liquidity to stabilize expectations. There are predictions of a potential new round of reserve requirement ratio cuts in the fourth quarter, which could further boost investor confidence in Chinese stocks.