Coronavirus latest: Stocks rally on signs of slowing spread

The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan.

Global cases have reached 1,174,855, according to the World Health Organization.

The worldwide death toll has hit 64,471.

To see how the disease has spread, click this interactive virus tracker:

Here are the latest developments (Tokyo time):

Tuesday, April 7

3:44 a.m. Japan’s proposed $1 trillion stimulus package offers $18,000 to mom and pop businesses struggling with a plunge in demand.

3:00 a.m. U.S. deaths from COVID-19 top 10,000, led by New York City, which has more than 3,000 victims, according to Johns Hopkins University’s Coronavirus Resource Center.

2:22 a.m. After declaring victory on stemming the coronavirus outbreak, China aims to stimulate depressed consumer spending with subsidies for auto purchases and looser caps on car ownership.

2:00 a.m. Yoshio Tateishi, a member of the founding family of Japanese electronics maker Omron, has been diagnosed with COVID-19. The 80-year-old is a former head of the Kyoto Chamber of Commerce and Industry.

1:41 a.m. U.K. shares gain as new infections slow in some European countries, with the benchmark FTSE 100 index closing 3.1% higher.

1:15 a.m. New York is potentially at the beginning of an apex in coronavirus infections, Gov. Andrew Cuomo says.

12:30 a.m. Singapore and Thailand are at risk of falling into economic contraction this year, while other Asian economies face sharply slower growth, a survey finds.

12:07 a.m. Confirmed coronavirus cases in Japan as of 10 p.m. Monday rise by 220 to 3,986.

Monday, April 6

10:30 a.m. U.S. stocks open higher on hopes the worst of the pandemic is over, with the Dow Jones Industrial Average rising over 800 points, or nearly 4%. The S&P 500 climbs about 4%.

9:45 p.m. Wall Street bank JPMorgan Chase may put its dividend on hold for the first time, CEO Jamie Dimon says in a letter to shareholders.

9:00 p.m. Spain says there were 637 coronavirus-related deaths Sunday, the lowest daily toll there since March 24, local newspaper El Pais reports, citing the Spanish Health Ministry. It also marks the fourth day of declines after daily fatalities peaked April 2 at 950.

8:56 p.m. Germany draws up a list of steps — including mandatory wearing of masks in public, limits on gatherings and the rapid tracing of infection chains — to help enable a phased return to normal life after its coronavirus lockdown is set to end on April 19, Reuters reports.

8:00 p.m. India’s union cabinet approves cutting the salaries of Prime Minister Narendra Modi and other ministers by 30% for one year, as the country combats the coronavirus and its negative economic impact, local media report, citing one of the ministers.

7:45 p.m. The English-language Viet Nam News reports that the justice department in Hanoi, Vietnam’s capital city, is strengthening coronavirus-fighting measures by imposing fines, including those worth a maximum $12.74 on people who fail to wear face masks in public and $212 on those who litter places with used masks.

7:33 p.m. Thailand extends a landing ban on international passenger flights. The measure was originally set to end April 6, but will now last until April 18. All flight permits granted for the period are canceled.

6:52 p.m. Japanese Prime Minister Shinzo Abe says he plans to declare a state of emergency in seven prefectures — Tokyo, Kanagawa, Saitama, Chiba, Osaka, Hyogo and Fukuoka — but adds, “we will not lock cities down.” The advance notice pushes companies and their employees to prepare for an extended period of teleworking.

5:54 p.m. The Philippines reports 414 new coronavirus infections, bringing its total to 3,660 cases, with 163 deaths.

Hospital workers wearing face masks prepare to sleep on cushions placed on pews at a funeral chapel temporarily sheltering health workers from a nearby hospital taking in coronavirus patients, in Makati City, Metro Manila.

  © Reuters

5:46 p.m. Indonesia reports 218 new cases on Monday, bringing the total to 2,491 with 209 deaths and 192 people who have recovered. Jakarta’s manpower agency over the weekend reported that more than 30,000 workers have been laid off and 132,000 put on unpaid leave in the Indonesian capital due to the coronavirus crisis.

5:30 p.m. Tokyo confirms 83 new infections, sources say, as the Japanese government moves closer to declaring a state of emergency that would likely be applied to the capital and Osaka areas.

4 p.m. Singapore unveils S$5.1 billion ($3.55 billion) in additional economic spending measures such as wage support, a waiver on levies and one-off payments to combat the coronavirus pandemic. The steps will increase total spending on coronavirus relief to S$59.9 billion, or 12% of gross domestic product. Singapore has reported a total of 1,309 coronavirus infections and six deaths.

2:58 p.m. India confirms 693 more coronavirus cases, taking its total to 4,067, according to a Health and Family Welfare Ministry report. The number of deaths jumps to 109, up 32 from Sunday morning and marking the country’s largest 24-hour increase.

1:10 p.m. Indonesia paroled over 30,000 prisoners on Sunday after officials worried that overcrowded prisons could accelerate spread of the virus among inmates.

A man salutes during a national day of mourning for COVID-19 victims in Beijing on April 4.

  © Reuters

12:10 p.m. China reports 78 new asymptomatic infections on the mainland as of Sunday, compared with 47 the day before. It also confirms 39 new cases on the same day, up from 30 on Saturday.

10:22 a.m. South Korea confirms 47 more cases, raising the total number to 10,284 with 186 deaths. It is the first time South Korea reported fewer than 50 new cases since the Feb. 29 peak.

9:34 a.m. Japanese Prime Minister Shinzo Abe has decided to declare a coronavirus emergency, Nikkei learns, as new cases in Tokyo increase at a record pace. Tokyo and surrounding areas, as well as Osaka, are expected to be affected by the declaration.

5:18 a.m. U.K. Prime Minister Boris Johnson has been admitted to a hospital with persistent coronavirus symptoms, British media reports.

4:00 a.m. Britain’s Queen Elizabeth addresses the nation about the crisis: “Better days will return, we will be with our friends again, we will be with our families again, we will meet again.”

Sunday, April 5

8:30 p.m. Singapore reports 120 new coronavirus cases in record daily jump.

7:00 p.m. Tokyo Governor Koike confirms record 143 new coronavirus infections.

3:59 p.m. Iran’s president said on Sunday “low-risk” economic activities would resume from April 11 in the Middle Eastern country worst-affected by the new coronavirus, Reuters reported.

2:00 p.m. A majority of people in Thailand are not confident whether the government would be able to contain the Covid-19 spread and most are not satisfied with its handling of the situation, according to an opinion survey by Suan Dusit Rajabhat University, the English-language daily Bangkok Post reported. Thailand also reported 102 new coronavirus cases and three more deaths, the Centre for Covid-19 Situation Administration said on Sunday.

8:00 a.m. U.S. President Donald Trump told reporters at a briefing that “there’s going to be a lot of death,” and asked Americans to brace for a big spike in coronavirus fatalities in the coming days, as the country faces what he called the toughest two weeks of the pandemic.

3:00 a.m. Dubai imposed a two-week lockdown Saturday night. It had been under an overnight curfew along with the rest of United Arab Emirates since March 26, but its Supreme Committee of Crisis and Disaster Management said the lockdown would now run around the clock for two weeks, the state news agency WAM said.

Saturday, April 4

6:00 p.m. Malaysia has recorded 150 new cases today, bringing to a total of 3,483 cases to-date. Four new deaths were also recorded, making it 57 death to-date.

4:10 p.m. Tokyo Metropolitan Government confirms 118 more infections, the first time the daily increase has topped 100.

2:48 p.m. India’s confirmed coronavirus cases hit 2,902 in the morning, an increase of 601 since Friday morning, according to the latest Health and Family Welfare Ministry data. The ministry has also recorded 68 deaths, up 12 over the same period.

11:34 a.m. Far fewer people are on the streets of shopping areas in Tokyo and other cities in Japan on Saturday, after authorities issued stay-at-home requests to combat the spread of the new coronavirus.

10:41 a.m. South Korea says it will extend its intensive social distancing campaign, which had been scheduled to end Monday, as concerns about imported coronavirus cases and new outbreaks in small clusters persist, reports Reuters.

10:14 a.m. Mexico’s health ministry says the number of people who have died of coronavirus in the country has risen to 60, up from 50 a day earlier. It has registered a total of 1,688 coronavirus cases, up from 1,510, reports Reuters.

5:00 a.m. The Dow finishes down 1.7% while the S&P 500 dips 1.5% as the stock market closes in New York.

4:29 a.m. Spain overtakes Italy for the first time in the number of confirmed coronavirus cases, but the overnight death toll fell from the previous day, reports Reuters.

3:58 a.m. Anyone expected to be near President Donald Trump or Vice President Mike Pence will be given a rapid COVID-19 test, the White House says.

3:51 a.m. Turkey imposed a partial curfew on citizens under the age of 20 effective midnight on Friday, says President Recep Tayyip Erdogan. It also decides to shut down the borders of 31 cities, including Istanbul, for all vehicles, excluding transit passage and essential supplies.

3:00 a.m. The volume of internet data used in Japan jumps 40% in roughly a month, prompting concerns about overwhelming the network.

1:35 a.m. The parent of All Nippon Airways seeks $2.79 billion in financing from a program run by the government-backed Development Bank of Japan.

1:00 a.m. New York reports the state’s biggest 24-hour death toll, with 562 succumbing to COVID-19 since a day earlier. New York City ranks seventh in the world in total COVID-19 deaths, just ahead of the Netherlands, according to Johns Hopkins University’s Coronavirus Resource Center.

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