Last week's global stock market review: The Shanghai Stock Exchange Index rose 1.3%, and the three major US stock indexes ended with the rise.

[Global Times Comprehensive Report] The Shanghai Stock Exchange Index rose 1.3%last week, ending the decline adjustment for two consecutive weeks. With the announcement of China's GDP in the second quarter of China, the data of 0.4%year -on -year from the year -on -year data dispel market's pessimistic expectations for the first half of the year. Regarding the economic trend in the second half of the year, Haifutong Fund believes that if you want to maintain a higher growth rate, the policy of steady growth needs to continue to make efforts.

In terms of overseas markets, the three major stock indexes of the US stocks ended in the rise. In July, the US Purchasing Manager Index and other data hit a two -year low, and the economic prospects have deteriorated significantly. As a result, the market has faded 100 points of interest rate hikes on the Fed and the stock market has risen. However, on July 22, the US stock social media sector "collapsed" because of the slowdown in recruitment and layoffs of major social media companies, and the market was concerned about the development of such companies.

European stocks also ushered in a general rise last week, but the market's concerns about the decline in European economy are intensified. Although Russia's "Beixi-1" pipeline recovered on schedule for Russia's gas arterial "Beixi-1" pipeline, Russia may still cut off natural gas supply by the end of the year. At the same time, the resignation of the Italian Prime Minister Delagi also caused market vibration. In a survey by the Bank of America's European fund managers, nearly half of the respondents expect that the European stock market will fall further in the next year, which is about 1/3 of June. (Wang Pengjie)

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