Asian Equities Higher after Positive U.S. Data

Asian stocks were mostly higher on Tuesday following a mixed morning session but gains were capped as traders continued to monitor developments in Iraq and Ukraine.

Sentiment rose following a raft of positive U.S. data overnight. Existing home sales rose more than expected in May while a preliminary read on June factory activity rose to its highest since 2010.

In Iraq, Sunni tribesman took control of a border crossing between Iraq and Jordan on Monday but it is unclear whether the Islamic State in Iraq and the Levant was behind the move. Speaking after a meeting with Iraqi leader Nuri al-Maliki, U.S. Secretary of State John Kerry pledged “intense and sustained” American support for Iraq to contain the insurgency.


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