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Global Market: Stocks Drift as Second Wave Virus Fears Mount

Kamis, 18 Juni 2020 | 17:33 WIB
Global Market: Stocks Drift as Second Wave Virus Fears Mount

ILUSTRASI. Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson TPX IMAGES OF THE DAY

Sumber: Reuters | Editor: Narita Indrastiti

KONTAN.CO.ID - LONDON/TOKYO (Reuters) - Global stocks drifted on Thursday as spiking coronavirus cases in some U.S. states and China crushed hopes of a quick global economic comeback from the pandemic.

Several U.S. states including Oklahoma, where President Donald Trump plans a campaign rally on Saturday, reported a surge in new coronavirus infections.

The daily count of infections also hit a new benchmark in California and Texas.

Around 400 workers tested positive for the virus at an abattoir in northern Germany, prompting the closure of local schools, while China’s capital cancelled scores of flights and blocked off some neighbourhoods.

“We were worried about a second wave and you are seeing worrying signs in some states in the US, some flare-ups in Germany and China,” Justin Onuekwusi, portfolio manager at Legal & General Investment Management. “It’s going to be a theme where we see economies having to do mini-lockdowns and isolation measures in order to contain the virus. The question is how much it affects markets.”

MSCI’s broadest index of World shares .MIWD00000PUS was 0.1% lower, its second day of broadly flat trading. The pan-European STOXX 600 was 0.4% lower, as its rally earlier in the week petered out.

S&P 500 mini futures EScv1 clawed back losses during Asian trade to sit 0.2% down. China's blue-chip CSI300 shares .CSI300 were a bright spot, adding 0.7%, helped by reassurances from its central bank governor that the world's second largest economy will maintain ample financial system liquidity in the second half of the year as the economy recovers from the coronavirus.

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