Asian indices shrugged off concern over the rise in COVID-19 cases globally as investors turned their attention to economic recovery after data indicated an uptick in activity as countries eased lockdown norms in June.China’s Purchasing Manager Index data, which was released earlier in the day showed that the PMI for manufacturing in June showed an uptick to 50.09 vs 50.06 in May, while non-manufacturing rose to 54.4 in June vs 53.6 in May, which boosted market sentiment.Moreover, the Asian indices opened on a positive note tracking a rise in the US stocks futures as investors were upbeat about more stimulus funds being pumped in to support the economy as a fresh bout of coronavirus cases made investors nervous over growth prospects.Data from the US also lifted the sentiment of investors as pending homes sales in May staged a historic rebound, soaring 44.3% in May as compared with April, the National Association of Realtors reported Monday.The strong uptick led to belief that economic recovery which was expected to be sluggish due to the pandemic may be able to bounce back.