SINGAPORE: Asian stocks rose on Tuesday as investors' focus on the prospects of a global coronavirus recovery won out over familiar worries about US-China relations and the depth of economic damage.
"There's increasing concern about further deterioration in relations between China and the US," said Michael McCarthy, chief market strategist at brokerage CMC Markets in Sydney. May Purchasing Managers Index data pointed to a fragile but encouraging rebound in global manufacturing - driving hopes that the worst is over.
"Early setbacks would be a very poor sign, but are not expected in the period immediately following the end of lockdowns."Currency and bond markets took a breather, and the safe-haven dollar scraped from multi-month lows against most major currencies and pushed bond yields lower.
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