LONDON (AP) -- Stock markets in Europe and Asia rebounded Wednesday ahead of an expected solid opening on Wall Street amid mounting hopes that China will soon announce a big stimulus package that could help limit the length and depth of the recession in the industrialized world.A legislative meeting starts Thursday in China and top of the agenda is what the government can do to lift growth rates, which have fallen in the wake of the global economic downturn. As one of the few major economies still expanding, China is being closely watched amid hopes its demand and trade can help the world weather the most severe global slowdown in decades.
"The Chinese stimulus move has been a positive thing but of course the things that have driven the markets lower haven't gone away: corporate earnings, the state of the U.S. economy and when the stimulus package will start gaining traction and the level of dividends," said Richard Hunter, equities strategist at stockbrokers Hargreaves Lansdown. more...
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