Asia: Stocks rally as better economic data trump second wave fears

Hong Kong, June 30 (AFP/APP):   Stock markets rose in Asia on Tuesday as traders welcomed positive economic data from China and the US, which helped offset a pick-up in virus infections and the reimposition of containment measures in some countries.

The easing of lockdowns in recent months has been a key catalyst for world equities as investors — supported by a wall of government and central bank cash — bet on a sharp recovery from what is expected to be a global recession this year.

Wall Street provided a healthy lead, helped by news of a record 44-percent on-month jump in US pending home sales in June, as well as a massive improvement in manufacturing activity as reported by the Dallas Federal.

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