(Bloomberg) — The coronavirus marked another grim milestone, reaching 2 million cases around the world. It took about four months for the virus to infect 1 million people and only 12 days for that number to double.
South Korean President Moon Jae-in’s ruling party scored a landslide victory in parliamentary elections, signaling to global leaders a strong response to the virus can translate into votes. China reported 46 new cases and no additional deaths as Asia trading got underway, though finance hub Singapore reported its highest daily increase in infections amid a surge among low-wage foreign workers living in dormitories.
President Donald Trump said data suggested the U.S. has passed a peak in new cases, while the country reported bleak economic data, with retail sales and factory output showing historic declines. In Europe, Italy reported its fewest new infections in four and a half weeks and German Chancellor Angela Merkel said she would allow some smaller shops to reopen next week.
Key Developments
Virus Tracker: Cases reach 2 million; deaths top 134,000China reports 46 new cases, 64 asymptomatic cases, no deaths Trump has marathon day of calls with CEOs on how to reopen U.S.In Wuhan, businesses still struggle after lockdown endsFed says economy contracted sharply with virus sweeping U.S.Trump’s WHO attack accelerates breakdown in global cooperation
China Reports No Additional Deaths (8:41 a.m. HK)
China said it had 46 additional coronavirus cases on Wednesday, with 34 of them imported and no new deaths from the disease, according to statement from the country’s National Health Commission. It reported 64 so-called asymptomatic cases.
China had 1,032 asymptomatic coronavirus cases under medical observation as of April 15. In total, the country, where the virus first emerged late last year, has 82,341 confirmed cases. Its death toll stands at 3,342.
Dorm Infections Push Singapore Cases to Record (8:22 a.m. HK)
Singapore reported its highest daily increase of coronavirus cases on Wednesday as infections surge among low-wage foreign workers housed in dormitories.
Authorities said an additional 447 cases were confirmed, bringing the total to 3,699 in the country. Of the new cases, more than 400 infections — about 90% — are tied to facilities that house the migrant workers in close quarters, according to a government statement.
The city-state is grappling with a pace of infections that’s picking up among workers staying in the dormitories, at a time when it appears to be stabilizing elsewhere across the country.
IMF Sees Asia Pacific Growth at a Standstill in 2020 (8:02 a.m. HK)
Economic growth in the Asia Pacific region will likely slow to a standstill this year, something that hasn’t happened in the last 60 years, according to the International Monetary Fund. The economic blow from coronavirus is shaping up to be far worse than other crises, according to the IMF’s outlook.
Royal Caribbean Cuts More Than 1,300 U.S. Jobs (7:47 a.m. HK)
Royal Caribbean Cruises Ltd. is cutting more than 1,300 U.S. jobs after the coronavirus pandemic forced the industry to halt operations. The reductions amount to about 26% of the company’s more than 5,000 U.S. workers, Royal Caribbean said. Most of the cuts are permanent, according to a person with knowledge of the matter who asked not to be identified discussing sensitive labor decisions.
South Korea Leader’s Party Wins Big During Pandemic (7:42 a.m. HK)
South Korean President Moon Jae-in’s ruling party scored a landslide victory in parliamentary elections held in the throes of the pandemic, signaling to global leaders a strong response to the virus can translate into votes.
Moon’s Democratic Party of Korea and its satellite party could win at least 180 places in the 300-seat National Assembly, according to election results and projections compiled by Yonhap News Agency, which said it amounted to the biggest win since democratic elections began in 1987. Voter turnout was at about 66%, the highest in 28 years and the projected outcome indicates a show of support for Moon’s handling of the crisis.
Trump Says New Infections Hitting Plateau in Some Areas (6:45 a.m. HK)
President Donald Trump said he will announce on Thursday guidelines to relax stay-at-home rules as he said the virus showed signs of plateauing in parts of the country.
The data suggest the U.S. has “passed the peak” on new cases,” Trump said in a Rose Garden press conference. “These encouraging developments have put us in a very strong position to finalize guidelines for states on reopening the country.”
Deborah Birx, a top public-health expert on the White House coronavirus task force, backed the president’s claim that social-distancing practice have helped, but stressed caution.
“We see as a country, we’re improving. We see as metro areas, we’re improving. We see as communities, as counties and as states, we’re improving,” Birx said at the press conference. “But that also still requires everyone to continue to social distance.”
L.A. Eyes Steps Toward Relaxing Rules in May (6:33 a.m. HK)
Los Angeles County may start taking steps toward relaxing restrictions next month, said Barbara Ferrer, director of the public health department. Ferrer said the county is working closely with the state. Governor Gavin Newsom yesterday outlined guidelines to reopen California but declined to give a timeline, saying the question can be asked again in a couple weeks if there is a reduction in hospitalizations and intensive-care patients.
Midwest Coalition Forming on Reopenings (6:20 a.m. HK)
Kansas Governor Laura Kelly said she’s working with Missouri Governor Mike Parson and Colorado Governor Jared Polis, leaders of the state’s neighbors to the east and west, respectively, on ways to coordinate their plans to lift restrictions on social gatherings and businesses.
The coalition would be the latest among U.S. states teaming up on ways to reopen the economy. New York Governor Andrew Cuomo has marshaled seven Northeastern states, while California, Washington and Oregon are collaborating in the West.
U.S. Confirmed Cases Rise 3.5% (4 p.m. NY)
U.S. cases rose 3.5% from the day before to 619,607 by Wednesday afternoon, according to data compiled by Johns Hopkins University and Bloomberg News. That was lower than the 6.2% average daily increase over the past week. Deaths increased 10% to 27,760.
New York’s cases rose about 0.5%, a sign that the outbreak is stabilizing in the hardest-hit state. Infections were climbing at a rate of 7.6% a week ago.
France Has Most Deaths to Date (2:05 p.m. NY)
France’s deaths rose by the most yet in figures released on Wednesday, while the number of intensive-care patients dropped for a seventh day.
Deaths linked to the virus rose by 1,438 to 17,167 fatalities, Director General For Health Jerome Salomon said in a briefing in Paris. He said the toll wasn’t over a 24-hour period, as the count included fatalities in recent days that weren’t previously reported.
N.Y. to Begin Antibody Testing for Essential Workers (1:45 p.m. NY)
New York state took an initial step back to normal life, introducing an antibody test to identify medical personnel and other essential workers who have already had the coronavirus and have some immunity, Governor Andrew Cuomo said.
The program will run 2,000 of the tests a day, Cuomo said Wednesday at his daily virus briefing. Those who have the antibodies will be allowed to return to work earliest, because they no longer carry the virus and have developed resistance to it.
New York has asked the U.S. Food and Drug Administration to expedite approval of an antibody test that could test as many as 100,000 New Yorkers a day, Cuomo said.
Merkel Allows Smaller German Shops to Reopen (1:40 p.m. NY)
German Chancellor Angela Merkel announced tentative steps to slowly start returning the country to normal, allowing some smaller shops to reopen next week and schools to gradually restart in early May.
Most of the restrictive measures will remain in place through May 3 and many aspects of public life will be limited for months to come. Restaurants, gyms and bars will stay closed indefinitely, and no large events such as soccer matches, concerts and festivals will be allowed before the end of August at the earliest.
Germany will need to ease restrictions in small steps, Merkel said.
Belgium Extends Lockdown (12:40 p.m. NY)
Belgium extended restrictions on its citizens and businesses until May 3, as Prime Minister Sophie Wilmes warned that any loosening of the measures will be very gradual and that nobody can say today when normal life can resume. Mass events such as summer music festivals will be banned until the end of August.
New Italian Cases Drop (12:30 p.m. NY)
Italy reported its fewest new coronavirus cases in four and a half weeks as a nationwide lockdown begins to check the spread of the disease. There were 2,667 new cases of the disease, compared with 2,972 a day earlier, the lowest since March 13, civil protection officials said at their daily briefing in Rome. Confirmed cases total 165,155.
WHO Defends Work With China (12:05 p.m. NY)
The World Health Organization is assessing any funding gaps and will try to fill them with other partners after President Donald Trump said the U.S. will withhold payments because the WHO had been too deferential to China, Director-General Tedros Adhanom Ghebreyesus said at a press briefing in Geneva.
“Our mandate is to work to promote health of all people, everywhere,” said Steven Solomon, legal counsel to the WHO. “This means we work with and for all people everywhere, whether they are in Taiwan, China or any other place.”
There are millions of cases of atypical pneumonia around the world each year so it was “remarkable” that the cluster of cases in Wuhan was identified, according to Mike Ryan, WHO’s head of health emergencies.
WHO member states will review the organization’s performance, which is usual in such circumstances, Tedros said. “No doubt areas for improvement will be identified and there will be lessons for all of us to learn. But for now our focus, my focus, is on stopping this virus and saving lives,” Tedros said.
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