Spreadex Market Update
Bulls winning the battle after latest news from China
The bulls are winning the battle today as concerns over declining growth took a back seat after the latest news from China indicated that growth was in line with expectations and an increase in investment has added to hopes that the figure may pick up in the following periods.
The market had by all appearances been pricing in another disappointing figure following other recent surprises to the downside however although growth did fall to 7.6% in the second quarter the figure was still greater than analysts had expected.
An additional bonus was the year to date investment figure which jumped from 20.1% to 20.4% and it now would seem that the country’s pro-growth stance of aggressive interest rate cuts, liquidity injections and increase in lending may be working. Some analysts are now predicting a powerful recovery in the 4th quarter as these measures begin to take hold. Unsurprisingly miners found themselves amongst the biggest risers as any indication of better global growth, especially from China, tends to push commodity stocks higher due to the increased perceived demand from such countries.
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