Asia Stocks Slump after Coronavirus Cases Hit 10 Million Mark with 500,000 Deaths!

Asia Stocks Slump after Coronavirus Cases Hit 10 Million Mark with 500,000 Deaths!


Asia stocks edged lower in the morning session on Monday as coronavirus cases surpassed 10 million over the weekend with more than 500,000 deaths, while the infection started to pick up the pace after the lockdown easing, especially in the U.S.

 

As of 9:23 local time in Thailand (GMT+7), Nikkei fell 1.34%, SSEC slipped 0.64%, HSI shedded 0.61%, ASX 200 dropped 1.15% and Kospi plunged 0.95%.

 

According to data compiled by Johns Hopkins University, the virus has taken more than 500,000 lives globally as the infection has surpassed 10 million cases.

The U.S. coronavirus cases spiked again with 45,000 new cases in a day, resulting in some states such as Texas and Florida to close some businesses again.

 

Krungsri Securities (KSS) had a negative view on today’s trading session of SET Index, expecting the index to edge lower to 1,300-1,310 points due to an uptick of coronavirus cases. The trade deal between the U.S. and China was also at risk after China threatened to walk out of the deal if the U.S. intervenes its governance on Hong Kong and Taiwan.

 

Back to top button