Global stocks retreat on rising second wave fears

TOKYO/WASHINGTON/HONG KONG - Asian stocks and Wall Street futures fell on Thursday as spiking coronavirus cases in some US states and China crushed hopes of a quick global economic comeback from the pandemic.

Hong Kong was down 1 per cent, Seoul slipped 0.6 percent, Taipei eased 0.2 percent and Singapore was off 0.6 percent. China's capital cancelled scores of flights, shut schools and blocked off some neighbourhoods as it ramped up efforts to contain a coronavirus outbreak that has fanned fears of wider contagion.

Investors rushed to the safety of bonds, with the 10-year US Treasuries yield falling 3 basis points to 0.704 per cent.

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