Categories: Market Overview

Global Second Waves Emerge; China Cases Jump

Health officials across the globe are grappling with second waves of the coronavirus pandemic, with outbreaks from China to Spain serving as reminders of the difficulty in permanently stamping out the pathogen.

China, where the virus first emerged, reported the most domestic cases since mid-March amid flareups in the west and northeast. Australia’s Victoria state confirmed a record 532 new infections, Vietnam saw its first cases in more than three months, and North Korea locked down a city after it found a person who may be infected.

In Europe, Spain is scrambling to stay ahead of new outbreaks that prompted the U.K. to impose a quarantine on travelers returning from the country. Cases and fatalities fell in many U.S. states hit hard by the coronavirus, including Florida, Arizona, California and Texas — though reported numbers are often incomplete on weekends.

Cases exceed 16.1 million; deaths pass 647,000. China reported the largest number of domestic infections in more than four months as it battles outbreaks in its western and northeastern regions, raising fears of a serious resurgence.

The jump in cases is the worst flareup since China contained its first epidemic in March, which centered on Wuhan in Hubei province where the virus first emerged last year.

Tokyo Governor Yuriko Koike said not many coronavirus cases were confirmed on Monday due to fewer tests, according to remarks streamed by broadcaster NHK. The government plans to convene a virus panel meeting this week to analyze the epidemic and draft responses. Tokyo found 239 new cases Sunday, marking the sixth straight day in which the number topped 200.

The government plans to ask businesses to have 70% of their work force adopt telecommuting as the coronavirus epidemic widens, Japanese Economy Minister Yasutoshi Nishimura said at a news conference Sunday, Jiji reported.

Australia’s Victoria state recorded 532 new Covid-19 cases as authorities struggle to bring a second wave of infections under control. The daily tally announced Monday follows the 459 new cases reported the previous day in Victoria, and is a new national record. There were six additional fatalities, State Premier Daniel Andrews said at a press conference.

Brazil, which has the world’s worst virus outbreak after the U.S., registered 24,578 new cases and 555 deaths, the Health ministry said. That’s half of the 51,147 cases and 1,211 deaths reported the previous day.

Cases and fatalities fell in many U.S. states hit hard by the pandemic, though reported numbers are often incomplete on weekends. Confirmed cases rose by 65,965 in the latest daily count, a 1.6% increase that’s less than the 1.8% average over the previous seven days. Deaths rose by 921, breaking a four-day streak of more than 1,000 per day.

The U.K. will pause reporting on coronavirus deaths while it reviews how they are counted. Last week, the government said deaths in England were attributed to coronavirus if the deceased had had the disease at any time. Scotland, Wales and Northern Ireland would only record deaths as virus-related if the patient had a positive test within the preceding 28 days.

The U.K. has reported the most Covid-19 deaths in Europe. The toll rose to 45,752 on Sunday.

Global Second Waves Emerge; China Cases Jump, Bloomberg, Jul 27

The FxPro News Team

This team of professional journalists announces the most interesting and influential articles from the major financial media as a brief summary. All such news may have sufficient potential to affect the course of trading assets.

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Tags: Covid-19

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