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Jul. 16 – Asian markets reacted positively with the news that China’s gross domestic product grew by 7.9 percent based on the latest figures released by the National Bureau of Statistics.

The market grew by 2 percent while every major stock market in the Asian region is currently trading in the green tonight, reports the LFB-Forex.com Trade Team.

Investor optimism was also buoyed by better than expected results from major U.S. companies like Goldman Sachs and Intel. Investors have been bullish on the huge emerging Chinese market as a way of offsetting depressed demand in traditional Western markets.

So far, this has proven true in the automobile and commodities market but has yet to hold water in other industries since domestic spending in the mainland has yet to reach its peak.

Chinese growth has been fueled by Beijing’s aggressive use of its huge stimulus plan that has it funneling funds to its ailing industries but it remains to be seen whether it will be enough to nurture lasting growth and value. Will things still be as good when the stimulus money runs out?

Despite these, some analysts speculate that China may reach its goal of 8 percent GDP growth by the end of the year.

“This should give people confidence that China’s economy is on strong footing and that there are a lot better days ahead,” Alan Landau, Hong Kong-based president of Marco Polo Pure Asset Management told the AP.

“All the signs point to expansion in China. Sentiment is very positive toward China. Where else in the world right now can you find that kind of growth?”