Investors around the world are following on the Chinese stock market in an effort to gauge the state of the global economy.

A Thursday Associated Press report says that stock markets around the world reacted favorably to news that the Chinese market had seen its biggest rally.According to the AP, Shanghai’s stock market was up 4.5 % , Japan’s Nikkei exchange was up 1.8 % and Hong Kong’s Hang Seng was up 2 %.

The wire service also quoted Neil Mackinnon, chief economist at ECU group as saying that “it’s a very fickle market” at this point and that “market sentiment is incredibly short-term at this moment.”

Tags:  chinese Exchange Stock