Asia stocks slip as coronavirus cases surge

Asian share markets got off to a shaky start on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the U.S. dollar.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2per cent and further away from a four-month top hit last week.Japan's Nikkei shed 1.5per cent and South Korean stocks 1.4per cent. E-Mini futures for the S&P 500 lost 0.3per cent. About one-quarter of all the deaths so far have been in the United States, 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 U.S. 10-year notes falling to 0.63per cent, having briefly been as high as 0.96per cent early in June.

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