Asian shares inch higher as data drives rebound hopes – ZAWYA

Asian shares inch higher as data drives rebound hopes – ZAWYA

Asian shares inch higher as data drives rebound hopes | ZAWYA MENA Edition HomeMarketsEquitiesArticleAsian shares inch higher as data drives rebound hopes Chinese PMI data helps stocks edge higher    A worker with sanitizing equipment disinfects inside the Shanghai Stock Exchange building, as the country is hit by a novel coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. Asian stocks struggled for headway on Wednesday as the second half of the year got underway, with improving economic data offset by worries that surging coronavirus cases in the United States could derail the world's recovery before it properly begins.Following firm U.S. housing data and signs of a rebound in Europe's economy, the latest boost to sentiment came from Chinese factory activity gathering steam in June, with the Caixin/Markit manufacturing PMI rising to 51.2 compared with expectations for 50.5.  But virus cases surged, too, with the U.S. recording 47,000 infections on Tuesday, its biggest single-day spike since the pandemic began.  Following firm U.S. housing data and signs of a rebound in Europe's economy, the latest boost to sentiment came from Chinese factory activity gathering steam in June, with the Caixin/Markit manufacturing PMI rising to 51.2 compared with