Fears over the second wave of the coronavirus spread resurfaced on Monday, after China’s National Health Commission (NHC) reported 17 new cases in the mainland on May 10, rising from a day earlier and marking the highest daily increase since April 28.
Seven of those cases were so-called imported cases in Inner Mongolia involving travellers from overseas.
Wuhan, the epicentre of the outbreak in China, reported five new locally transmitted COVID-19 cases, the highest since March 11, per Reuters.
Meanwhile, the number of asymptomatic infections fell to 12 on Sunday compared with 20 reported a day earlier.
Market reaction
The re-opening of the global economies from the virus led lockdowns seems to have lifted the market sentiment heading into a fresh week. Although, the scare over the second virus wave keeps the investors on the edge.
USD/JPY consolidates the uptick to 107.02 while AUD/USD trades with solid gains above 0.6550. The Asian stocks, US stock futures and Treasury yields flash green amid risk-on while the greenback’s recovery is seen fizzling out.
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