Asian Shares Down

Asian shares and US stock futures fell on Friday, with an increase in the number of Covid-19 cases in the United States, which casts fears on the outlook for economic recovery. At the same time, investors looked forward to the earnings season.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.74%. Australian stocks declined by 0.31% as an extension of loan payment deferrals hit the banking sector. Japanese stocks were down by 0.58%.

Chinese stocks fell 0.72% from the highest level in five years, the first decline in more than a week as concerns about tensions between China and the United States reappeared again.

60,500 new cases of Covid-19 were reported in the United States on Thursday، which is the largest recorded number of cases in a single day anywhere، this has raised concerns about renewing lockdown, which could harm the economic recovery.