Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some U.S. states and in China dented hopes of a quick global economic comeback from the pandemic.
The daily count of infections hit a new high in California and Texas, the two most populous states in the country, while Florida, the third largest, also recorded its second-highest daily increase.
In China, Beijing cancelled scores of flights, shut schools and blocked off some neighbourhoods as it ramped up efforts to contain a coronavirus outbreak that has fanned fears of wider contagion. “All this suggests that the more you re-start the economy, the more infections you have. People have thought the economy will quickly recover in July-September after dismal April-June. But that is now becoming uncertain.”Some investors also worried about further paralysis in Washington as Trump’s former national security adviser John Bolton accused him of sweeping misdeeds that included explicitly seeking Chinese President Xi Jinping’s help to win re-election.
Investors rushed to the safety of bonds, with the 10-year U.S. Treasuries yield US10YT=RR falling 2 basis points to 0.710%.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks set to rise as drug trials, data push Wall Street higherAsian stocks were set to climb on Wednesday after another late Wall Street surge in response to upbeat trial results for a COVID-19 treatment and data showing U.S. consumers spent big in May.
Read more »
Asian stocks set to fall as Wall St snaps 3-day winning streakAsian stocks were set to dip on Thursday after a choppy Wall Street session as spiking coronavirus cases and prospects of new lockdowns erased earlier confidence about a global economic recovery.
Read more »
Global stock markets rally as US government and Fed stimulus hopes emergeStock markets around the world are bouncing back on Tuesday after the U.S. Federal Reserve announced an expansion to its incursion into the corporate credit market.
Read more »
Asian governments turn to 'lawfare' as war on the press goes to the courtsRodrigo Duterte's muzzling of the press in the Philippines could present a model for authorities in Hong Kong, where a sweeping new national security law is due to be imposed in coming weeks | Analysis by jgriffiths
Read more »
Asian business sentiment plunges to record low on virus effect: Thomson Reuters/INSEAD surveyBusiness sentiment of Asian companies sank to an 11-year low in the second quarter, a Thomson Reuters/INSEAD survey found, with some two-thirds of the firms polled flagging a worsening COVID-19 pandemic as the biggest risk over the next six months.
Read more »