The chattering class is clearly leaning towards the sentiment that Chinese growth is stabilizing as GDP growth was strong (compared to its 6.0 to 6.5 percent range) in conjunction with strong PMI numbers and, as can be seen by the Shanghai Composite, strong capital markets.
While Europe is unsure what to do with the euro from the prospect of Brexit still on the table and the United States obsessed with the Mueller Report being released today, China is considerably devoid of these types of political risks that are mostly distraction. The market is much more focused on fundamentals and while the political risk in Europe or the US is not likely to significantly shift markets today per se, the Chinese are technocratically attempting to solve their financial problems.
While Europe is unsure what to do with the euro from the prospect of Brexit still on the table and the United States obsessed with the Mueller Report being released today, China is considerably devoid of these types of political risks that are mostly distraction. The market is much more focused on fundamentals and while the political risk in Europe or the US is not likely to significantly shift markets today per se, the Chinese are technocratically attempting to solve their financial problems.