Stocks across Asia and Europe rise on Economic growth indicators

Stocks across the Asia Pacific region marked a second consecutive day of bullish growth as the European stock market reached a three-week high.Stock markets in the Asia-Pacific region and Europe saw gains on Thursday. This uptick was attributed to the United Kingdom’s economic recovery, China’s recent stimulus measures and expectations surrounding the United States Consumer Price Index.

In Europe, the stock market rally was bolstered by data from the United Kingdom, with reports showing economic growth in August, although some sectors still lagged.China's national wealth fund announced an increase in its holdings in the country's four largest banks on Thursday. The news helped shares of all three main lenders in the country go up during Shanghai’s trading hours. The stock of the Bank of China increased by 3.2%, while China Construction Bank saw an increase of 2.

The British economy rose by 0.2% in terms of gross domestic product , in August compared to the previous month, exceeding estimates of less than 0.1%. This GDP growth rate helped reverse a slide in the economy that began in July with a 0.5% contraction.

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