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Sensex, Nifty Seen Higher On Firm Asian Cues

Indian shares are seen opening higher on Monday, mirroring positive cues from other Asian markets after U.S. President Donald Trump stopped short of specifying tough sanctions over China's new national security law for Hong Kong and Chinese PMI data showed fresh signs of economic recovery.

Chinese data released over the weekend showed the country's factory activity expanding in May. with the official manufacturing PMI coming in at 50.6, down from 50.8 in April.

A private survey showed the country's manufacturing activity unexpectedly expanded in the month. The Caixin/Markit manufacturing PMI for May came in at 50.7, beating analysts' expectations for a score of 49.6.

Closer home, India saw its highest ever jump in coronavirus infections with 8,237 cases on Sunday as both Central and state governments prepare for a phased unlocking of the nationwide lockdown.

India has now become the world's seventh worst-hit country in terms of coronavirus cases with its tally of 1,82,143.

Meanwhile, India's GDP growth slowed sharply in the three months to March, partially reflecting the coronavirus-triggered country-wide lockdown that began towards the end of the quarter, official data showed on Friday.

GDP grew 3.1 percent year-on-year compared to 5.7 percent in the same quarter a year ago, according to figures from the statistics ministry.

The latest growth rate is reportedly the lowest in at least eight years, but was better than the 2.1 percent economists had forecast.

The December quarter growth was revised lower to 4.1 percent from 4.7 percent. The ministry also lowered its growth figure for the fiscal year 2019-20 to 4.2 percent from 5 percent estimated earlier.

U.S. stocks ended mostly higher on Friday after President Donald Trump made no mention of tariffs during his highly-anticipated press conference on China.

Trump ordered his administration to begin the process of eliminating special U.S. treatment for Hong Kong and also said he is terminating the U.S.' relationship with the World Health Organization, claiming China has total control of the agency.

The tech-heavy Nasdaq Composite climbed 1.3 percent and the S&P 500 added half a percent, while the Dow Jones Industrial Average slid 0.1 percent.

European markets fell sharply on Friday on concerns that rising U.S-China tensions may create more problems for the global economy.

The pan-European Stoxx Europe 600 index lost 1.4 percent to snap a four-session winning streak.

The German DAX tumbled 1.7 percent, France's CAC 40 index shed 1.6 percent and the U.K.'s FTSE 100 plunged 2.3 percent.

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