Search ForexCrunch

Mainland China reported three confirmed and five new asymptomatic COVID-19 cases by the end of June 9, the National Health Commission said on Wednesday, according to Reuters.

All the new confirmed cases involved travellers from overseas, the commission said in a statement.

A total of three new confirmed and 21 asymptomatic COVID-19 cases were reported a day earlier.

The tally of mainland infections now stands at 83,046 with the death toll unchanged at 4,634.

China does not count asymptomatic patients, who are infected with the coronavirus but do not show symptoms, as confirmed COVID-19 cases.

Key notes

  • China reports 3 new coronavirus cases in mainland as of end-June 9 vs 3 a day earlier.
  • China reports 3 new imported coronavirus cases in mainland as of end-June 9 vs 3 a day earlier.
  • China reports 5 new asymptomatic coronavirus cases as of end-June 9 vs 21 a day earlier.

Market implications

Markets are only glancing at these stats with one eye lately as they are concentrated lease where, mainly the US, Europe and Latin America where cases are souring in some countries. 

With the relaxation of the lockdown rules, warnings are being sounded about a possible resurgence of COVID-19 cases – a so-called second wave.

What is concerning, is that a second wave of the Spanish flu pandemic in 1918-20 was particularly devastating, as was the second wave of the H1N1 epidemic in 2009-10. 

Markets paused to reflect on Tuesday, ahead of the Federal Reserve. However, there is definitely an air of caution around the mass demonstrations that experts say could be the catalysts for a second wave. 

Evidence is accumulating that the first wave of the epidemic resulted in only limited immunity, well below herd immunity levels.

 

Expert score

5

Etoro - Best For Beginner & Experts

  • 0% Commission and No stamp Duty
  • Regulated by US,UK & International Stock
  • Copy Successfull Traders
Your capital is at risk.