(For full coverage of the financial crisis [nCRISIS])

* U.S. stocks leap on bank and tech optimism

* China upturn seen but data weak in U.S. and Europe

* Second-largest U.S. mall owner files for bankruptcy

* Fed official says U.S. recession should end mid-year

* AIG sells U.S. auto insurance arm to Zurich (Recasts with market close, Google results, Zurich/AIG deal)

By John O'Callaghan

WASHINGTON, April 16 (Reuters) - Hope grew on Thursday that China's slowest quarter on record may mark a bottom to the global economic crisis as optimism over banking and technology helped stocks defy weak U.S. and European data with a strong rally.

But General Growth Properties GGP.N, the second-largest U.S. mall owner, underscored the tenacious grip of the downturn and trouble caused by frozen lending by filing for bankruptcy protection in the biggest real estate failure in U.S. history. [ID:nN16227089]