Mixed Fortunes in Global Markets Amid Lackluster Economic Data

Global share markets experienced a short-lived rebound in Asia due to disappointing Chinese economic data. European market futures indicated a mixed opening. Upcoming British pay growth and joblessness figures could signal more interest rate cuts from the Bank of England. Meanwhile, Chinese stocks struggled amid worsening consumer demand.

The rebound in global share markets proved short-lived in Asia on Tuesday, as lackluster economic indicators from China dampened the mood and capped gains in Asian stocks.

European markets are set for a mixed opening, with EUROSTOXX 50 futures indicating a positive start while FTSE futures fell by 0.3%. Figures on British pay growth and joblessness due later in the day could indicate easing inflationary pressures, potentially paving the way for more rate cuts by the Bank of England.

In contrast, Chinese stocks hit a seven-month low amid weak consumer demand and ongoing trade tensions. The U.S. House's recent move to restrict business with Chinese biotech firms exacerbated market concerns, sending Hong Kong-listed WuXi AppTec shares down over 10% at one point.

(With inputs from agencies.)