Asian stocks under pressure after spike in coronavirus cases

📆 24/06/2020 06:10:00
📰 ChannelNewsAsia

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Asian stocks were expected to come under pressure on Wednesday, as a spike in new coronavirus infections weighed on sentiment, although U.S.

assurances that the China trade deal was intact and upbeat economic data provided some reasons for optimism.

Kyle Rodda, market analyst at IG Markets, said late selling seen in Wall Street suggested a"soggy start" for Asian markets."We expect something of a positive start for Asian trade, but we will have overhanging concern about the virus itself and a second wave unfolding," said Kyle Rodda, market analyst at IG Markets."The market is clinging on to a recovery as much as it can."Japan's Nikkei 225 futures fell 0.02per cent.

Coronavirus cases in the U.S. surged 25per cent in the week ended June 21 compared from the week before, according to a Reuters analysis.

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