· Asia stocks slide as coronavirus fears return
Asian shares fell sharply on Friday and oil prices extended losses on growing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns, or even lead to fresh restrictions.
MSCI’s broadest index of Asia-Pacific shares outside Japan slid 1.2%, after a strong run-up in recent weeks. Australian stocks dropped 1.57%, but shares in China erased losses to trade 0.03% higher after Beijing’s pledge to continue with capital market reforms.
U.S. stock futures, the S&P 500 e-minis, rose 1.4% in Asian time on Friday after tumbling overnight, but that did little to help sentiment.
· Tokyo stocks close lower on concerns of U.S. virus resurgence
Tokyo stocks ended lower Friday, after a dicey start which saw the benchmark Nikkei stock index sank 3 percent on growing concerns about a resurgence of COVID-19 cases in the United States.
The 225-issue Nikkei Stock Average dropped 167.43 points, or 0.75 percent, from Thursday to close the day at 22,305.48, marking its lowest closing level since June 1.
The broader Topix index of all First Section issues on the Tokyo Stock Exchange, meanwhile, lost 18.24 points, or 1.15 percent, to finish at 1,570.68.
· China stocks end higher on capital market reform hopes
China stocks recouped earlier losses to end higher on Friday, led by tech, as investors cheered Beijing’s pledge to push forward with capital market reforms.
At the close, the Shanghai Composite index was down 0.04% at 2,919.74, while the blue-chip CSI300 index was up 0.18%.
Both indexes fell as much as 1.7% soon after the market started trading, weighed down by a slump on the Wall Street.
· European stocks fluctuate as investors monitor recovery and second virus wave fears
European markets made a choppy start to Friday’s trade as they looked to rebound from the previous session’s significant sell-off.
The pan-European Stoxx 600 bounced either side of the flatline in early trade and was down 0.6% around 40 minutes into the session. Telecoms stocks dropped 1.2% to lead losses while autos bucked the trend to add0.4%.
Thursday saw the European blue chip index plunge 4% after an economic reality check from the U.S. Federal Reserve and concern over a second wave of coronavirus infections rocked sentiment.
The U.K. posted the biggest monthly fall in GDP (gross domestic product) on record in April, according to data released Friday by the Office for National Statistics.
GDP fell by 20.4% compared to the previous month, a sharper contraction than the 18.4% expected by analysts polled by Reuters.
· Thailand to lift curfew, more curbs as 'travel bubbles' targeted
Thailand will lift a nationwide curfew and ease more restrictions next week, a spokesman for its coronavirus task force said on Friday, after the country has reported no local transmissions of the virus for 18 days.
Thailand is also planning to reopen to foreign visitors by creating so-called travel bubbles with countries that have also managed to contain the virus, though no target date was set, said Taweesin Wisanuyothin, a spokesman for the Centre for COVID-19 Situation Administration.
“The curfew will be lifted effective on June 15 along with the easing of some activities,” Taweesin said, adding that strict social distancing rules still needed to be observed in all public activities.
Schools with less than 120 students, exhibition halls, music concerts, film productions, playgrounds, amusement parks, sports competitions without spectators and sales of alcohol in restaurants can resume next Monday, he said.
Reference: CNBC, Reuters
Thai
Eng