More than 45,000 new coronavirus cases were confirmed in the U.S. on Wednesday, a record that surpassed the previous April 26 peak by over 9,000 cases, according to an NBC News tally.
Futures pointed to a lower open for stocks in Japan, while shares in Australia looked set for a positive start to their trading day.
Investor reaction to the ongoing coronavirus situation in the U.S. will continue to be watched on Friday, after the country suffered its single-biggest daily coronavirus cases surge on record. The U.S. Federal Reserve on Thursday placed new restrictions on the banking industry after its annual stress test found that several banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic.coronavirusFutures pointed to a lower open for stocks in Japan. The Nikkei futures contract in Chicago was at 22,505 while its counterpart in Osaka was at 22,470. That compared against theMeanwhile, shares in Australia were set for a positive start to their trading day.
"The burden on healthcare systems may force city or state governments to pause reopening of their economies or reimpose city-or state-wide lockdowns," Joseph Capuro, head of international economics at Commonwealth Bank of Australia, wrote in a note. Still, Capurso said: "We doubt a second wave of infections will reverse the current US economic recovery. The reimposition of lockdowns in select US cities will have a much smaller economic impact than state-wide or nation-wide lockdowns."
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia Today: 19 new cases in China amid mass testingBEIJING (AP) — China reported 19 newly confirmed cases of the coronavirus on Thursday amid mass testing in Beijing, where a recent outbreak appears to have been brought under control. Of...
Read more »
'Fair & Lovely' Skin Lightening Brand, Popular In South Asia, To Change NameIndia's most popular skin-whitening cream, Fair & Lovely, is dropping the word 'fair' from the brand name – and eliminating references to lightening affects. Some say it's not the name that needed to go, but the product itself.
Read more »
Tencent buys Malaysian streaming platform Iflix in SE Asia pushTencent said on Thursday it had purchased Malaysian video streaming platform Iflix's 'content, technology, and resources' in a bid to grow its presence in Southeast Asia.
Read more »
Asia set to track Wall Street retreat as second wave derails recovery hopesAsian markets were set to follow a tumble in Wall Street stocks and oil prices on Thursday after surging U.S. coronavirus cases and the International Monetary Fund's downgrade to global economic projections shook confidence in a recovery.
Read more »
Asia Pacific stocks slip following overnight Dow plunge; IMF slashes forecasts againThe International Monetary Fund slashed its economic forecasts again on Wednesday. It now estimates a contraction of 4.9% in global gross domestic product in 2020, lower than the 3% fall it predicted in April.
Read more »
Microsoft's new Asia boss outlines business priorities in the age of coronavirusAhmed Mazhari recently completed his first 100 days at the helm of Microsoft's Asia business, after replacing Ralph Haupter in February.
Read more »