Stocks of some of China's most widely held companies were firmly in rally mode Tuesday as the country's policymakers were considering moves to shore up its faltering stock market. Reports have emerged that the government may embark on a spending spree, scooping up stocks to buoy the market.

Several of China's biggest technology stocks far outpaced gains by the broader market Tuesday. Shares of Alibaba Group (NYSE: BABA) surged 6.9%, Baidu (NASDAQ: BIDU) jumped 6.7%, and JD.com (NASDAQ: JD) climbed as much as 6.2% as of 11:56 a.m. ET.

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