China economic data in focus later as local equities soar ...Middle East

China is solved, get involved.It's a slow process to turn around a ship or an economy and that's certainly been the case with China. Hints about stimulus and rate cuts have repeatedly failed to deliver or only delivered half-measures but --slowly-- those half measures have added up.The latest was this week's report saying China's government is considering buying unsold homes to ease oversupply. That and the other measures have slowly provided an uplift to economic data that the market has suddenly tuned into.The result has been a one-way trade in the Hang Seng since late April.Shanghai and mainland equities haven't done quite as well but shares gained yesterday and US ETFs are bubbling today

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