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Asia stocks slide as coronavirus fears return

Byindianadmin

Jun 12, 2020 #fears, #return
Asia stocks slide as coronavirus fears return

TOKYO (Reuters) – Asian shares fell sharply on Friday and oil prices extended losses on growing concerns that a resurgence of coronavirus infections could stunt the pace of recovery in economies reopening from lockdowns, or even lead to fresh restrictions.

FILE PHOTO: Visitors look at a stock quotation board at Tokyo Stock Exchange in Tokyo Japan, October 11, 2018. REUTERS/Issei Kato

MSCI’s broadest index of Asia-Pacific shares outside Japan slid 1.2%, after a strong run-up in recent weeks. Australian stocks dropped 1.57%, but shares in China erased losses to trade 0.03% higher after Beijing’s pledge to continue with capital market reforms.

U.S. stock futures, the S&P 500 e-minis, rose 1.4% in Asian time on Friday after tumbling overnight, but that did little to help sentiment.

Euro Stoxx 50 futures were down 0.6%, German DAX futures fell 0.65%, and FTSE futures were down 0.66%.

Oil futures slumped for a second consecutive trading session due to worries about weak global energy demand, which boosted the safe-haven dollar.

The Chinese yuan headed for its biggest daily decline in two weeks, underscoring investors’ risk-ave

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