Tuesday, 14 July 2020
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Jump In New Coronavirus Cases Derails Stock Rally
Thursday, 13 February 2020 08:32 WIB | MARKET UPDATE |Saham Asian Indeks MSCI Asia Pasifik

Asian stock markets wobbled and the safe-havens of the Japanese yen, gold and bonds rose on Thursday as the number of new coronavirus cases at the outbreak's epicenter jumped sharply.

China's Hubei province, the epicenter of the virus, reported 242 new deaths and confirmed 14,840 new cases on Feb. 12, a dramatic rise from the 2,015 new cases a day earlier.

The increase came as provincial officials adopted a new methodology for counting infections although it was not immediately clear how the new methods affected the results, nor why the death toll rose so sharply.

The spike dashed hopes that the virus was slowing, knocking U.S. e-mini stock futures in to negative territory, sending the Japanese yen 0.2% higher against the dollar and pushing yields on U.S. 10-year Treasuries about 3 basis points lower (US10YT=RR).

It also capped gains on stock boards, with MSCI's broadest index of Asia-Pacific shares outside Japan 0.04% weaker, despite a strong rally on Wall Street overnight.

Japan's Nikkei (N225) was 0.2% lower, while Australia's ASX/S&P 200 index (AXJO) retreated from a record high.

Source : Reuters

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