The global stock market has seen a surge in activity this week, as investors responded to positive economic data from China and other major markets.
On Monday, China’s stock market rebounded after a tumultuous month, driven by upbeat economic data. The Shanghai Composite Index rose 2.2%, while the Shenzhen Component Index gained 1.5%.
The gains came after data showed that China’s factory activity rose to its highest level in nearly 11 years in February. The figures, released by the National Bureau of Statistics, showed that the Purchasing Managers’ Index (PMI) rose to 51.9, up from 51.3 in January.
Meanwhile, in the UK, house prices posted their largest decline in a decade in February, as higher mortgage rates took their toll. According to the Office for National Statistics, house prices fell by 0.8% month-on-month, the biggest fall since December 2009.
Elsewhere, Asian shares and oil prices rose on Monday, buoyed by the strong Chinese factory data. The MSCI Asia Pacific Index rose 0.4%, while Brent crude futures rose 0.7% to $67.02 a barrel.
The positive news from China and other markets has boosted investor confidence and could signal a recovery in the global economy. Investors will be closely watching the markets in the coming weeks to see if the positive trend continues.