China's strong data sparks major stock rally with economic stimulus 'bearing fruit'

Asian stocks closed higher on Wednesday after a raft of positive Chinese data signaled a recovery in the world's second-largest economy.Growth in industrial output, retail sales and fixed-asset investment also impressed.

Asian stocks closed higher on Wednesday after a raft of positive Chinese data pointed to a recovery in the world's second-largest economy, dampening fears of a global slowdown. "This is just the latest in a string of recent Chinese data that has surprised to the upside, indicating that policy implemented by Beijing at the end of last year could finally be bearing fruit," said Jasper Lawler, head of research at London Capital Group.

However, the market reaction to the positive data may have been muted by concerns that Chinese policymakers may now decide to temper planned monetary stimulus, Naeem Aslam, chief market analyst at TF Global Markets, warned.

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