MARKETS are coming to a close on Monday, but there is still a lot to be seen for the market leaders, according to data compiled by market researcher Gartner.
The top 10 markets, according the research firm, are the Shanghai Composite (10.4%), the London Stock Exchange (8.5%), Frankfurt, Germany (8), Tokyo (8) and Shanghai (8).
The five-day average is now above 9,000 and could easily surpass the 10,000 mark as trading continues.
The markets have been trading lower in recent weeks due to the US presidential election and the Brexit vote, which are expected to lead to further declines.
Market leaders Shanghai Composite and London Stock Exchanges have both fallen to their lowest levels in three years.
The US stock market is down 8.6pc in the week to 26 June and is now down 2.9pc for the month.
In the US, the Dow Jones Industrial Average has dropped 21.5pc this year, the S&P 500 has lost 11.5%, and the Nasdaq Composite has lost 13.9%.
Gartner says the market will continue to fall, but this time it will be for the better, due to lower commodity prices, the global economic slowdown and a weaker dollar.
It says the world economy is now in the second quarter of the year where it will probably be worse than it was at the end of 2016.
There is a strong risk that China, the world’s second-largest economy, will continue its rapid economic growth in 2017 and 2018.
The global economy is likely to contract in 2017, which will lead to a further decline in economic activity in 2018 and 2019.
Garts report comes as China’s economy is expected to contract by 6.5% in 2018, according the Bank of America Merrill Lynch.
Analysts said that this is likely because China will focus on improving its economic performance and reducing unemployment, which they expect to result in higher growth in 2018.
In 2017, the Chinese economy grew at a rate of 7.2% in the first quarter, according Gartners data.
There are many signs that the economy is slowing in China, with the GDP growth slowing by 5.5 per cent in the past year, according data from the World Bank.
According to Gartnes data, there were 1.24 million fewer people working in the country in 2016 than in 2015.
This means there were an extra 2.2 million people in employment in 2016, but it is expected that this number will rise to 3.5 million in 2020.
China’s labour market has been undergoing rapid changes as a result of a series of policies aimed at cutting down on government spending and raising tax revenues.
On top of these, a number of policies were introduced in the wake of the economic slowdown in China to improve its growth prospects, including: reducing the size of the workforce; expanding social security benefits; and increasing taxes on the wealthy and corporations.
While these policies have been very successful in slowing the economic downturn in China in recent years, they have also contributed to slowing growth.
The Gartens report notes that while the US has been slow to recover from the recession, it is likely that the global economy will continue the slow growth for the next two years.