(Bloomberg) — Hong Kong notched up another day of rising coronavirus infections, local media reported. Asia’s largest retailer cut its full-year profit forecast for the third time as the outbreak continues to ripple through the consumer-goods industry.
Global virus cases topped 12 million after infections in the U.S. and Mexico accelerated. Mexico had its biggest daily jump in infections, bringing the total number past 275,000. Tokyo found a record 224 new cases on Thursday, even as officials continued to assert that a state of emergency is not necessary.
Germany saw some signs of success in containing the spread, with the infection rate falling for a second straight day. Business conditions in Dubai improved after lockdown measures were relaxed, giving the Middle East’s financial center a boost.
Key Developments:
Global Tracker: Cases top 12 million; deaths exceed 548,000Trump rally likely fueled virus cases, official saysVirus-ravaged states in India clamor for more fundsPregnant and stuck on a ship in the middle of the pandemicJapan is paying businesses to shut during the pandemicWhy the way we live now will mean more pandemics: QuickTake
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Uniqlo Seller Cuts Profit Forecast (2:44 p.m. HK)
Fast Retailing said operating profit for the fiscal year through August will probably be 130 billion yen ($1.2 billion), down from prior guidance of 145 billion yen and slighly below analyts’ average estimate. The company also cut its forecast for sales.
Hong Kong Local Virus Cases Surge: HK01 (2 p.m. HK)
The financial hub found at least 16 new locally-transmitted virus cases as of 9:30 a.m. on Thursday, HK01 reported. At least 10 of the latest batch of cases were of unknown origin, HK01 said, indicating that authorities may struggle to contain the current outbreak.
Germany’s Infection Rate Drops Further (2 p.m. HK)
Germany’s coronavirus infection rate fell the second day in a row, while the number of new cases stayed far below the level at the height of the outbreak. The reproduction factor — or R value — dropped to 0.70 on Wednesday from 0.81 the previous day, according to the latest estimate by the country’s health body.
Dubai Business Conditions Improve (1:12 p.m. HK)
Business conditions in Dubai showed signs of picking up in June as the city reopens after a lockdown to contain the spread of the coronavirus. Non-oil private sector activity in the Middle East’s business hub improved for the first time since February, according to IHS Markit’s Purchasing Managers’ Index. The gauge rose from 46 in May to 50 last month — the mark that separates contraction from growth.
United, American Extend Suspension of HK Flights (12:28 p.m. HK)
United Airlines Inc. extended its suspension of flights to and from Hong Kong, citing new coronavirus testing protocols for crew arriving in the Asian financial hub, while American Airlines Group Inc. also canceled plans to resume services from Dallas/Fort Worth.
Hong Kong updated its Covid-19 prevention and control measures this week, requiring all air crew members arriving at the city’s airport starting Wednesday to provide throat saliva samples at a government facility nearby.
Japan Braces for Virus Rise (11:41 a.m. HK)
Tokyo braced for a rise in the number of virus infections Thursday, while the minister in charge of the pandemic response said there was no need to declare an emergency.
Economy Minister Yasutoshi Nishimura, who leads the nation’s coronavirus response, said that virus cases in Tokyo may rise Thursday and Friday, and that measures will be taken in risky areas. Governor Yuriko Koike meanwhile warned that figure may be very high, as the capital steps up testing, with much of it being focused around night-time businesses such as host and hostess bars. Tokyo is set to have a meeting of its monitoring panel Thursday.
Mexico’s Cases Jump by Daily Record (10:18 a.m.)
Mexico reported a record daily rise of 6,995 confirmed Covid-19 cases, bringing the total to 275,003, according to data released by the Health Ministry Wednesday night. Deaths rose by 782, to 32,796.
Mexico has reported record daily rises in Covid-19 cases three times in the last week as the country has moved forward with reopening its economy. It has surpassed Spain and France to become the country with the fifth deadliest outbreak.
Hong Kong’s New Outbreak Worsens: HK01 (8:23 a.m.)
The government found 6 additional locally-transmitted virrus cases after the 4 p.m. cutoff time for the daily count on Wednesday, HK01 reported, citing unidentified people.
An almost three-week lull in local infections has come to an abrupt end, with 19 new comminity transmissions reported Wednesday and the government expressing fears that the city might be in the early days of a wider outbreak.
Tokyo to Support Nightlife Industry (7:46 a.m. HK)
The Tokyo Metropolitan Government will offer subsidies to nightliffe establishments in stricken areas that close because of the coronavirus, Asahi reported, citing an unidentified official. Outlets that close for 10 days or more will receive 500,000 yen ($4,660), according to the report.
Texas Reports Another Day of Record Deaths (6 a.m. HK)
Texas had its second straight day of record virus deaths, at 98, bringing total fatalities in the state to 2,813. Virus cases rose 4.7% to 220,564, exceeding the seven-day average of 4%. The 9,979 new cases were second only to yesterday’s record of 10,028. Hospitalizations jumped by 324, or 3.5%, which was less than the seven-day average of 5.2%.
As cases continued rising in Houston, epicenter of the state’s biggest outbreak, Mayor Sylvester Turner said he was canceling the Republican Party’s state convention that was to be held in the city next week. The mayor also objected to proposals to reopen public schools in August, saying it was premature for such discussions until the outbreak is under control.
Trump Rally Linked to Jump in Cases (5:39 p.m. NY)
The top health official in Tulsa, Oklahoma, said that President Donald Trump’s June 20 campaign rally and accompanying protests likely boosted the number of coronavirus infections in the area.
“We do have the highest number of cases, and we’ve had the significant events in the past few weeks that more than likely contributed to that,” Tulsa Health Department Director Bruce Dart said Wednesday at a news conference.
Trump held the rally despite pleas from local authorities to delay because they were already seeing a rise in Covid-19 cases. An estimated 6,200 people came to the city’s 19,000-seat BOK Center, many without masks. Tulsa County reported 261 and 206 cases for Monday and Tuesday, eclipsing Tuesday’s seven-day rolling average of 146.7.
L.A. County Warns of ‘Critical Juncture’ (5:22 p.m. NY)
Los Angeles County reported 2,496 new coronavirus cases, bringing its total to more than 123,000, along with 65 additional deaths. “We are at a very critical juncture in our pandemic,” Barbara Ferrer, the county’s public-health director, said at a press briefing.
The county, home to 10 million people, has been the hardest-hit part of California. The rate of positive tests has jumped to 10.4% on a rolling seven-day average, a level not seen since late April. Ferrer warned that thousands more people may require hospitalizations that could overwhelm the health-care system if infections numbers aren’t brought under control.
Pritzker Calls for National Mask Mandate (5:18 p.m. NY)
Illinois Governor J.B. Pritzker called for a “national mask mandate” to stem the spread of the coronavirus as states attempt to reopen.
“This might be the most important thing we can do to save lives,” he said Wednesday in testimony to the House Homeland Security Committee. Illinois imposed a mask mandate on May 1 and there has been “shifts in our infection rate,” he said.
“A global pandemic requires a national response, but that is not what happened,” he said, and states are looking to federal officials for guidance. “It’s not too late for the federal government to make an impact, in fact, it’s more important than ever.”
Ivy League Scraps Sports in Coming Semester (4:54 p.m. NY)
The Ivy League is canceling sports competition for the upcoming semester because of health concerns about the pandemic, becoming the first Division I conference in the U.S. to scrap football.
The conference, whose eight members include Harvard University, Yale University and Princeton University, made the move Wednesday, according to a person with knowledge of the matter. The decision will affect not only fall sports, including soccer, but winter sports also played in the semester, such as basketball. The league is still open to the possibility of spring competition.
California Cases Hit One-Day Record (3:37 p.m. NY)
California reported 11,694 new virus cases, its largest one-day increase and above the seven-day average of 8,116 daily infections. The data for Wednesday includes some backlog of cases from Los Angeles County, Governor Gavin Newsom said at a press briefing. The state had 111 additional deaths, he said.
The rate of positive tests over the past 14 days has jumped to 7.1%, compared with around 5% two weeks ago. Newsom said the state is monitoring that figure “very closely” and warned it can quickly spike into double digits. He urged people to continue to stay home except for essential needs.
(Corrects HK01 report on new local cases in Hong Kong)
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