Stocks try to shake off second wave virus fears

TOKYO/HONG KONG: U.S. stock futures recouped losses on Monday but Asian stocks wobbled as investors tried to shake off worries that rising coronavirus cases in the United States could scupper a quick economic rebound.

After a brutal sell-off earlier this year, share prices had risen globally over the past three months, helped by massive stimulus around the world and hopes the worst of the pandemic was over. "Whether there will be a lockdown may vary depending on region. It will be a tough decision for politicians. But they probably have no other choice if they are running out of hospital beds," he said.

Global stock market valuations are now at their most expensive levels since 2002 compared with projected earnings in the coming 12 months. China's top legislative body, the National People's Congress Standing Committee, will meet on June 28, and the Global Times reported it would likely enact the Hong Kong security law by July 1.

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