markets are rallying on news about strong chinese p.m.i. investors are taking it as a fly about chinese stimulus to head off a slowdown is actually working stimulus like tax cut stimulus like increased spending compare that of course to german manufacturing data and we have the worst reading in seven years but as you can see behind me it doesn't really be doing that much to affect german stocks and what we're actually seeing is that investors are taking these positive signals out of china and interpret ing them as a good sign to buy stock in german companies that's why we've seen headlining companies in the german docks like to syncro and fox vying with some gains today so what we're seeing is a improvements in the chinese picture seems to matter more now for investors instead of a worse and german picture for the euro zone. china is not the only country with big manufacturing numbers to report the british pm on in march serge who is thirteen months behind. well well unlike china you can rate that as a positive lead now this is of course down to stoc

investors like the recent data. the p.m.i. numbers did show stabilization for the factory activity. >> 3,200 for the shanghai composite. let's bring in far geeled. to say it's been an extraordinary quarter for chinesederstatement. 30% year to date and we are barely into april. we had p.m.i. numbers. yes, that's good. what's next? business rally -- garfield: i think it probably does, david. most of the drivers that were there for chinese stocks throughout the first quarter are still there. i mean, you remember the data going into the first quarter in china wasn't that great and a lot of the early data in the first quarter also wasn't good. so one or two, actually, nice p.m.i.'s later doesn't kind of overcome that data hump. what it does do is show there's sufficient optimism that the measures that the chinese authorities are taking can turn the economy around as well as the realization that 6% a year, that's kind of the low bar. it's seem pretty good when it comes to g.d.p. growth. you also have people piling in rom abroad, thanks to the msci rewaitings. when you look around the world there is a story of anemic growth and there's places like europe that are in deep trouble to china and asia, if you'