Asian stocks, oil fall as second wave fears grow

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Asian shares stumbled on Monday and oil prices slipped as fears of a second wave of coronavirus infections in Beijing sent investors scurrying for safe-havens while underwhelming data from China further weighed on sentiment.

FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease , at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song

Risk sentiment took a knock after Beijing recorded dozens of new COVID-19 cases in recent days, all linked to a major wholesale food market. Authorities have closed the centre and locked down nearby housing districts. “We assume that any second wave is likely to be more manageable than the first given earlier policy experience,” analysts at Morgan Stanley wrote in a note.The risk-sensitive currencies of Australia and New Zealand sold off with both down 0.4% at $0.6855 and $0.6424, respectively.Analysts said further tests awaited global markets this week – in particular whether re-opening hopes could still push equities higher.

 

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I am afraid that the second pandemic wave also would be rise from the ground.

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Asian stocks, oil sell off on second wave fearsAsian markets started the week on the backfoot on Monday while oil prices slipped as fears of a second wave of coronavirus infections in China sent investors scurrying for safe-havens. yo Reuters know who’s especially burdened by fear right now? Interpol Agent O’Smiley, who’s sadly having marriage troubles in this episode of CasinoLizard Art VideoArt FilmNoir Noir Cinema CinemaNoir ArtCanLikeChangeTheWorld Second wave my arse. Stop peddling lies. We are a little over two weeks from Memorial Day and sure enough we are getting a new wave - spikes, surges - whatever you want to call it. This is the overlap period between the first wave and second wave which experts predicted. WearAMask Be safe.
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