Reuters

Upbeat China data buoys sentiment in world share markets

World stock markets edged back towards recent record highs on Monday as upbeat economic data out of China eased concerns about a slowdown in the world’s No.2 economy, although falling mainland house prices tempered the optimism. Annual growth in retail sales and industrial output both beat forecasts, with the bounce in consumption a positive given pandemic restrictions. But in a negative sign for the stressed housing market, China’s new home prices fell 0.2% month-on-month in October, the biggest decline since February 2015.