China reports 12 new asymptomatic coronavirus cases

Reuters reports that China has reported 3 new coronavirus cases for May 13, down from 7 cases a day earlier, the country's health commission said.

All of the new cases were locally transmitted - two in the northeastern Liaoning province and one in Jilin province that borders Liaoning, the National Health Commission said in a statement on Thursday.

The number of new asymptomatic cases rose to 12 from 8 a day earlier.

The total number of cases now stands at 82,929 while the death toll remained unchanged at 4,633.

A second wave is feard in the market at this point. China is of the same opinion as millions of people in Wuhan will be tested for the novel coronavirus within the coming days. This follows a new cluster of cases emerging despite a strict 76-day lockdown that was intended to eliminate the virus from the central Chinese city.

Fears of a second surge of coronavirus infections are forcing early-hit countries to rethink plans for re-opening as new cases come to light. South Korea has dispatched several thousand police officers in a renewed push for contact tracing.  

In both Europe and America, the sentiment is mixed. The hardest hit, France, Italy, Spain and the UK are trying to get their tourism and general trad back on track, but sceptics doubt there is any safe way of doing so. In Japan, meanwhile, Prime Minister Shinzo Abe says the country is on a "steady" path to ending its epidemic. Abe's government may lift the national state of emergency for much of the country as soon as this week— more than two weeks earlier than the current May 31 expiry date.

The currency pair to watch with all of this is AUD/JPY for it is closely correlated to risk sentiment. More on that here: AUD/JPY struggles around 0.69 the figure, bears in control