Asian stocks retreat in the face of inexorable coronavirus spreading

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Rise in US Covid-19 infection rates dents momentum worldwide despite improvements in global economy, analyst says

A pedestrian walks past an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo, Japan. Picture: AFP/KAZUHIRO NOGI

About one-quarter of all the deaths so far have been in the US, with cases surging in a handful of southern and western states that reopened earlier. Sovereign bonds benefited from the shift to safety with yields on US 10-year notes falling to 0.64%, having briefly been as high as 0.96% early in June.

 

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