Market Overview

Covid resurgence in some parts of Asia could threaten the region’s economic recovery

As 2020 draws to a close, many investors consider Asia as the region with one of the best economic prospects next year thanks to its relatively better control of the coronavirus outbreak. But a recent surge in Covid cases in some countries threatens to dim the region’s economic outlook, some analysts have warned.

“For some of Asia’s giants, this year’s Covid-19 woes are unlikely to get any better when the clock strikes 12 on New Year’s Eve,” said research firm Pantheon Macroeconomics.

To be sure, daily reported cases in many parts of Asia — where the virus first hit — remain lower compared with those in Europe and the U.S., data compiled by Johns Hopkins University showed.

But some countries are now battling a resurgence far worse than what they experienced earlier in the pandemic. Even territories that had major successes in containing the virus may not be spared, with Taiwan this week reporting its first locally transmitted case since April 12 — underscoring the difficulty in eradicating Covid.

Japan
Covid-19 tally: 207,007 cumulative confirmed cases and 2,941 deaths as of Wednesday, according to Hopkins data.
The number of daily reported coronavirus infections in Japan started to rise again in November and last week surpassed 3,000 for the first time, Hopkins data showed

South Korea
Covid-19 tally: 53,533 cumulative confirmed cases and 756 deaths as of Wednesday, according to Hopkins data.
Like Japan, South Korea’s daily new cases this month reached levels not seen before — surpassing 1,000 for the first time since the outbreak.

Malaysia
Covid-19 tally: 98,737 cumulative confirmed cases and 444 deaths as of Wednesday, according to Hopkins data.
The Southeast Asian country brought Covid cases down to a trickle before the latest surge starting in October, Hopkins data showed. That led the government to impose a fresh round of partial lockdown measures in some parts of the country.

Covid resurgence in some parts of Asia could threaten the region’s economic recovery, CNBC, Dec 25

Article Rating